Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 8,290 Shares of Occidental Petroleum Co. (OXY)
Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in Occidental Petroleum Co. (NYSE:OXY) by 6.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,689 shares of the oil and gas producer’s stock after selling 8,290 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Occidental Petroleum were worth $9,835,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Occidental Petroleum by 170.8% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,327 shares of the oil and gas producer’s stock worth $109,000 after buying an additional 837 shares during the period. Westbourne Investment Advisors Inc. bought a new position in shares of Occidental Petroleum in the third quarter worth about $138,000. Kaizen Advisory LLC raised its stake in shares of Occidental Petroleum by 142.0% in the second quarter. Kaizen Advisory LLC now owns 1,793 shares of the oil and gas producer’s stock worth $150,000 after buying an additional 1,052 shares during the period. GeoSphere Capital Management LLC bought a new position in shares of Occidental Petroleum in the second quarter worth about $151,000. Finally, Spectrum Management Group Inc. bought a new position in shares of Occidental Petroleum in the second quarter worth about $160,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.
OXY has been the topic of several recent research reports. Mizuho reaffirmed a “buy” rating on shares of Occidental Petroleum in a research note on Tuesday, July 24th. ValuEngine downgraded Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, August 10th. National Alliance Securities raised Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Finally, Bank of America raised their price objective on Occidental Petroleum from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, August 17th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $86.35.
Occidental Petroleum (NYSE:OXY) last issued its earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.26. The company had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $4.60 billion. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The firm’s quarterly revenue was up 98.9% on a year-over-year basis. During the same quarter last year, the company earned $0.18 EPS. On average, equities analysts expect that Occidental Petroleum Co. will post 5.17 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 10th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Friday, December 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 350.56%.
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About Occidental Petroleum
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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