TD Asset Management Inc. Purchases 59,798 Shares of Occidental Petroleum Co. (OXY)
TD Asset Management Inc. raised its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.6% during the first quarter, Holdings Channel reports. The firm owned 2,393,954 shares of the oil and gas producer’s stock after buying an additional 59,798 shares during the period. TD Asset Management Inc.’s holdings in Occidental Petroleum were worth $151,681,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Capital Analysts LLC increased its stake in Occidental Petroleum by 14.6% in the first quarter. Capital Analysts LLC now owns 10,563 shares of the oil and gas producer’s stock worth $669,000 after buying an additional 1,346 shares during the period. Endurance Wealth Management Inc. increased its stake in Occidental Petroleum by 24.3% in the first quarter. Endurance Wealth Management Inc. now owns 117,624 shares of the oil and gas producer’s stock worth $7,453,000 after buying an additional 22,974 shares during the period. Sei Investments Co. increased its stake in Occidental Petroleum by 11.2% in the first quarter. Sei Investments Co. now owns 602,596 shares of the oil and gas producer’s stock worth $38,180,000 after buying an additional 60,765 shares during the period. First Foundation Advisors increased its stake in Occidental Petroleum by 16.6% in the first quarter. First Foundation Advisors now owns 190,606 shares of the oil and gas producer’s stock worth $12,077,000 after buying an additional 27,074 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in Occidental Petroleum during the first quarter worth $11,922,000. Hedge funds and other institutional investors own 80.07% of the company’s stock.
Occidental Petroleum Co. (OXY) opened at 60.13 on Thursday. The stock has a 50 day moving average price of $60.83 and a 200-day moving average price of $65.75. Occidental Petroleum Co. has a 12-month low of $57.20 and a 12-month high of $78.48. The firm’s market capitalization is $45.97 billion.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Thursday, May 4th. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.96 billion. Occidental Petroleum had a negative return on equity of 3.40% and a negative net margin of 5.52%. The company’s revenue was up 30.6% compared to the same quarter last year. During the same period last year, the company posted ($0.47) EPS. On average, equities research analysts forecast that Occidental Petroleum Co. will post $1.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 9th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Wednesday, June 7th. Occidental Petroleum’s dividend payout ratio is presently -400.00%.
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A number of research firms recently weighed in on OXY. Mitsubishi UFJ Financial Group began coverage on Occidental Petroleum in a research note on Monday, May 29th. They issued a “hold” rating and a $69.00 price target on the stock. Cowen and Company restated a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum in a research note on Tuesday, May 23rd. Credit Suisse Group AG restated a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum in a research note on Friday, May 19th. Scotiabank reiterated a “hold” rating and set a $68.00 target price on shares of Occidental Petroleum in a research report on Monday, May 15th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $70.00 target price on shares of Occidental Petroleum in a research report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $71.97.
In related news, insider Vicki A. Hollub acquired 15,000 shares of Occidental Petroleum stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $62.72 per share, with a total value of $940,800.00. Following the purchase, the insider now directly owns 76,018 shares in the company, valued at approximately $4,767,848.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen I. Chazen sold 4,000 shares of the firm’s stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $63.55, for a total value of $254,200.00. Following the sale, the director now directly owns 1,488,619 shares of the company’s stock, valued at $94,601,737.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,000 shares of company stock valued at $2,252,080. Corporate insiders own 0.35% of the company’s stock.
About Occidental Petroleum
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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