Edge Advisors LLC Sells 1,184 Shares of Occidental Petroleum Co. (OXY)
Edge Advisors LLC cut its holdings in Occidental Petroleum Co. (NYSE:OXY) by 21.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,276 shares of the oil and gas producer’s stock after selling 1,184 shares during the quarter. Edge Advisors LLC’s holdings in Occidental Petroleum were worth $314,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Occidental Petroleum by 21.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock worth $1,418,851,000 after acquiring an additional 3,366,402 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Occidental Petroleum by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 13,863,294 shares of the oil and gas producer’s stock worth $1,021,169,000 after acquiring an additional 345,382 shares during the period. Capital International Investors increased its stake in shares of Occidental Petroleum by 3.6% during the third quarter. Capital International Investors now owns 8,273,652 shares of the oil and gas producer’s stock worth $531,251,000 after acquiring an additional 289,718 shares during the period. Epoch Investment Partners Inc. increased its stake in shares of Occidental Petroleum by 22.0% during the third quarter. Epoch Investment Partners Inc. now owns 8,103,731 shares of the oil and gas producer’s stock worth $520,341,000 after acquiring an additional 1,461,761 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Occidental Petroleum by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 7,755,139 shares of the oil and gas producer’s stock worth $569,998,000 after acquiring an additional 200,350 shares during the period. Institutional investors own 79.86% of the company’s stock.
A number of brokerages have recently issued reports on OXY. Morgan Stanley boosted their price target on shares of Occidental Petroleum from $66.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Macquarie began coverage on shares of Occidental Petroleum in a research note on Wednesday, January 17th. They set a “neutral” rating on the stock. Citigroup upgraded shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price target on the stock in a research note on Monday, January 22nd. Cowen set a $85.00 price target on shares of Occidental Petroleum and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Mizuho set a $79.00 price target on shares of Occidental Petroleum and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Occidental Petroleum has an average rating of “Hold” and a consensus target price of $71.60.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.54 billion. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. analysts forecast that Occidental Petroleum Co. will post 2.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Thursday, March 8th. Occidental Petroleum’s dividend payout ratio is currently 180.12%.
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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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