Occidental Petroleum Corporation (NYSE:OXY) Stake Increased by Nuveen Asset Management LLC
Nuveen Asset Management LLC boosted its stake in Occidental Petroleum Corporation (NYSE:OXY) by 62.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 532,224 shares of the oil and gas producer’s stock after buying an additional 204,361 shares during the period. Nuveen Asset Management LLC owned approximately 0.07% of Occidental Petroleum Corporation worth $33,722,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of OXY. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Occidental Petroleum Corporation during the first quarter valued at about $102,000. Parallel Advisors LLC raised its stake in Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 264 shares during the last quarter. Mosaic Family Wealth LLC raised its stake in Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 72 shares during the last quarter. FNY Partners Fund LP purchased a new stake in Occidental Petroleum Corporation during the first quarter valued at about $126,000. Finally, Farmers National Bank purchased a new stake in Occidental Petroleum Corporation during the first quarter valued at about $147,000. 81.55% of the stock is currently owned by institutional investors and hedge funds.
Occidental Petroleum Corporation (OXY) traded up 0.40% during mid-day trading on Tuesday, reaching $62.08. 595,905 shares of the company’s stock were exchanged. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $78.48. The stock has a market capitalization of $47.69 billion, a PE ratio of 428.14 and a beta of 0.65. The firm’s 50-day moving average is $60.32 and its 200 day moving average is $62.88.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The firm’s revenue was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. Analysts forecast that Occidental Petroleum Corporation will post $0.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.98%. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s payout ratio is currently 2,338.46%.
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Several equities research analysts have recently issued reports on the stock. Jefferies Group LLC reissued a “hold” rating and set a $70.00 target price on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. Credit Suisse Group reissued a “buy” rating and set a $80.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday, May 19th. Zacks Investment Research lowered shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Wolfe Research raised shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Finally, Bank of America Corporation reissued a “buy” rating and set a $80.00 target price (down from $83.00) on shares of Occidental Petroleum Corporation in a research note on Thursday, May 11th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Occidental Petroleum Corporation currently has a consensus rating of “Hold” and a consensus price target of $66.38.
In related news, CFO Cedric W. Burgher acquired 1,700 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were purchased at an average price of $59.85 per share, with a total value of $101,745.00. Following the completion of the acquisition, the chief financial officer now owns 44,124 shares in the company, valued at $2,640,821.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen I. Chazen sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $60.53, for a total transaction of $242,120.00. Following the sale, the director now directly owns 1,460,619 shares in the company, valued at approximately $88,411,268.07. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.
Occidental Petroleum Corporation Company Profile
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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