First National Trust Co. Sells 3,475 Shares of Occidental Petroleum Corporation (OXY)
First National Trust Co. trimmed its stake in Occidental Petroleum Corporation (NYSE:OXY) by 13.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,558 shares of the oil and gas producer’s stock after selling 3,475 shares during the period. First National Trust Co.’s holdings in Occidental Petroleum Corporation were worth $1,449,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in OXY. Stockman Wealth Management Inc. raised its position in shares of Occidental Petroleum Corporation by 41.8% in the 1st quarter. Stockman Wealth Management Inc. now owns 42,852 shares of the oil and gas producer’s stock worth $2,715,000 after acquiring an additional 12,641 shares in the last quarter. Legal & General Group Plc grew its stake in Occidental Petroleum Corporation by 3.1% during the 1st quarter. Legal & General Group Plc now owns 3,888,331 shares of the oil and gas producer’s stock worth $246,406,000 after buying an additional 118,521 shares during the last quarter. Anchor Capital Advisors LLC grew its stake in Occidental Petroleum Corporation by 1.4% during the 1st quarter. Anchor Capital Advisors LLC now owns 415,198 shares of the oil and gas producer’s stock valued at $26,307,000 after purchasing an additional 5,731 shares during the last quarter. Capital Planning Advisors LLC purchased a new stake in Occidental Petroleum Corporation during the 1st quarter valued at about $249,000. Finally, Sentry Investment Management LLC grew its stake in Occidental Petroleum Corporation by 2.4% during the 1st quarter. Sentry Investment Management LLC now owns 102,144 shares of the oil and gas producer’s stock valued at $6,472,000 after purchasing an additional 2,390 shares during the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.
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Several research firms have weighed in on OXY. Mizuho reiterated a “hold” rating and set a $64.00 price target on shares of Occidental Petroleum Corporation in a research note on Friday, November 3rd. Jefferies Group LLC boosted their price target on Occidental Petroleum Corporation from $62.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, November 3rd. Cowen and Company reiterated a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum Corporation in a research note on Thursday, September 28th. Morgan Stanley boosted their price target on Occidental Petroleum Corporation from $62.00 to $66.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Finally, BMO Capital Markets set a $60.00 price target on Occidental Petroleum Corporation and gave the company a “hold” rating in a research note on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $66.07.
Occidental Petroleum Corporation (NYSE:OXY) traded down $0.74 during midday trading on Tuesday, reaching $67.19. The company had a trading volume of 1,031,534 shares, compared to its average volume of 4,521,431. The firm has a market cap of $52,166.77, a PE ratio of 194.77, a price-to-earnings-growth ratio of 13.71 and a beta of 0.63. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $73.51. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Occidental Petroleum Corporation had a return on equity of 1.31% and a net margin of 4.33%. Occidental Petroleum Corporation’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.15) EPS. equities analysts anticipate that Occidental Petroleum Corporation will post 0.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.58%. Occidental Petroleum Corporation’s payout ratio is 440.00%.
About Occidental Petroleum Corporation
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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