Caisse DE Depot ET Placement DU Quebec increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 231.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 297,705 shares of the oil and gas producer’s stock after buying an additional 207,900 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Occidental Petroleum were worth $19,196,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in OXY. Grove Bank & Trust increased its position in shares of Occidental Petroleum by 54.8% during the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after acquiring an additional 622 shares during the last quarter. Oakworth Capital Inc. boosted its stake in shares of Occidental Petroleum by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after purchasing an additional 250 shares during the period. Fis Group Inc. purchased a new position in shares of Occidental Petroleum in the third quarter valued at approximately $126,000. Enterprise Financial Services Corp boosted its stake in shares of Occidental Petroleum by 68.5% in the third quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock valued at $127,000 after purchasing an additional 806 shares during the period. Finally, Parallel Advisors LLC boosted its stake in shares of Occidental Petroleum by 14.2% in the second quarter. Parallel Advisors LLC now owns 2,240 shares of the oil and gas producer’s stock valued at $139,000 after purchasing an additional 279 shares during the period. 80.34% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on OXY shares. Cowen reiterated a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum in a research note on Thursday, September 28th. Bank of America lifted their price target on shares of Occidental Petroleum from $70.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Goldman Sachs Group upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Morgan Stanley boosted their price objective on shares of Occidental Petroleum from $62.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Finally, Jefferies Group boosted their price objective on shares of Occidental Petroleum from $62.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $67.27.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, topping the consensus estimate of $0.11 by $0.07. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.15) EPS. equities research analysts forecast that Occidental Petroleum Corporation will post 0.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders 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 4.45%. Occidental Petroleum’s dividend payout ratio (DPR) is 440.00%.
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Occidental Petroleum 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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