Pennsylvania Trust Co Trims Position in Occidental Petroleum Co. (OXY)
Pennsylvania Trust Co reduced its position in Occidental Petroleum Co. (NYSE:OXY) by 43.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,859 shares of the oil and gas producer’s stock after selling 24,796 shares during the quarter. Pennsylvania Trust Co’s holdings in Occidental Petroleum were worth $1,677,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of OXY. Country Trust Bank raised its stake in Occidental Petroleum by 434.6% during the fourth quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 339 shares in the last quarter. We Are One Seven LLC acquired a new position in Occidental Petroleum during the fourth quarter worth $25,000. Pinnacle Bank acquired a new position in Occidental Petroleum during the fourth quarter worth $28,000. Heritage Trust Co raised its stake in Occidental Petroleum by 496.2% during the fourth quarter. Heritage Trust Co now owns 465 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 387 shares in the last quarter. Finally, Sontag Advisory LLC acquired a new position in Occidental Petroleum during the fourth quarter worth $32,000. 84.34% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have issued reports on OXY shares. Zacks Investment Research lowered Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley set a $72.00 price objective on Occidental Petroleum and gave the stock a “buy” rating in a research note on Thursday, February 14th. Atlantic Securities upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Friday, December 21st. Barclays lowered Occidental Petroleum from an “overweight” rating to an “underweight” rating and dropped their price objective for the stock from $77.00 to $70.00 in a research note on Friday, February 15th. Finally, Mizuho reiterated a “buy” rating and set a $82.00 price objective on shares of Occidental Petroleum in a research note on Wednesday, February 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $83.80.
Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.10. Occidental Petroleum had a return on equity of 18.17% and a net margin of 21.87%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same period last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 33.8% compared to the same quarter last year. Equities analysts anticipate that Occidental Petroleum Co. will post 3.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 11th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.05%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 62.28%.
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About Occidental Petroleum
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.
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