IFM Investors Pty Ltd Invests $1.25 Million in Occidental Petroleum Corporation (OXY) Stock
IFM Investors Pty Ltd bought a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,921 shares of the oil and gas producer’s stock, valued at approximately $1,253,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Occidental Petroleum Corporation by 3,198.5% in the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock valued at $3,737,692,000 after acquiring an additional 57,202,942 shares during the period. Morgan Stanley lifted its holdings in Occidental Petroleum Corporation by 22.1% in the first quarter. Morgan Stanley now owns 9,249,261 shares of the oil and gas producer’s stock valued at $586,034,000 after acquiring an additional 1,672,384 shares during the period. Principal Financial Group Inc. lifted its holdings in Occidental Petroleum Corporation by 119.6% in the second quarter. Principal Financial Group Inc. now owns 2,372,784 shares of the oil and gas producer’s stock valued at $142,058,000 after acquiring an additional 1,292,162 shares during the period. Federated Investors Inc. PA lifted its holdings in Occidental Petroleum Corporation by 18.0% in the second quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after acquiring an additional 1,152,152 shares during the period. Finally, Flossbach Von Storch AG lifted its holdings in Occidental Petroleum Corporation by 179.7% in the second quarter. Flossbach Von Storch AG now owns 1,765,645 shares of the oil and gas producer’s stock valued at $105,709,000 after acquiring an additional 1,134,445 shares during the period. Hedge funds and other institutional investors own 80.85% of the company’s stock.
Occidental Petroleum Corporation (NYSE OXY) opened at 61.35 on Friday. The stock’s 50 day moving average price is $60.60 and its 200 day moving average price is $61.35. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $75.60. The firm has a market capitalization of $46.91 billion, a P/E ratio of 432.04 and a beta of 0.66.
Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the business earned ($0.18) earnings per share. The company’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, equities analysts expect that Occidental Petroleum Corporation will post $0.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 8th. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.02%. Occidental Petroleum Corporation’s payout ratio is 2,369.23%.
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OXY has been the subject of a number of analyst reports. Barclays PLC set a $38.00 price target on Occidental Petroleum Corporation and gave the company a “sell” rating in a report on Friday, August 4th. Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup Inc. downgraded Occidental Petroleum Corporation from a “neutral” rating to a “sell” rating and decreased their price target for the company from $66.00 to $58.00 in a report on Friday, July 21st. BidaskClub downgraded Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Finally, BMO Capital Markets decreased their price target on Occidental Petroleum Corporation from $60.00 to $55.00 and set a “market perform” rating for the company in a report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Occidental Petroleum Corporation presently has an average rating of “Hold” and an average target price of $65.14.
In other Occidental Petroleum Corporation news, Director William R. Klesse purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the purchase, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by insiders.
Occidental Petroleum Corporation 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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