Stockman Wealth Management Inc. trimmed its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,780 shares of the oil and gas producer’s stock after selling 3,768 shares during the quarter. Occidental Petroleum accounts for about 2.0% of Stockman Wealth Management Inc.’s portfolio, making the stock its 13th largest position. Stockman Wealth Management Inc.’s holdings in Occidental Petroleum were worth $4,477,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in OXY. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Occidental Petroleum by 21.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock valued at $1,418,851,000 after purchasing an additional 3,366,402 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Occidental Petroleum by 2.6% during the 4th quarter. Bank of New York Mellon Corp now owns 13,863,294 shares of the oil and gas producer’s stock valued at $1,021,169,000 after purchasing an additional 345,382 shares during the last quarter. Capital International Investors grew its stake in Occidental Petroleum by 3.6% during the 3rd quarter. Capital International Investors now owns 8,273,652 shares of the oil and gas producer’s stock valued at $531,251,000 after purchasing an additional 289,718 shares during the last quarter. Epoch Investment Partners Inc. grew its stake in Occidental Petroleum by 22.0% during the 3rd quarter. Epoch Investment Partners Inc. now owns 8,103,731 shares of the oil and gas producer’s stock valued at $520,341,000 after purchasing an additional 1,461,761 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Occidental Petroleum by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 6,564,040 shares of the oil and gas producer’s stock worth $421,505,000 after buying an additional 175,502 shares during the last quarter. Hedge funds and other institutional investors own 79.86% of the company’s stock.
OXY has been the topic of a number of recent research reports. Goldman Sachs Group upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Credit Suisse Group initiated coverage on Occidental Petroleum in a research note on Monday, December 11th. They issued a “neutral” rating and a $62.00 target price on the stock. Citigroup upgraded Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 target price on the stock in a research note on Monday, January 22nd. Jefferies Group upped their target price on Occidental Petroleum from $62.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. Finally, Macquarie initiated coverage on Occidental Petroleum in a research note on Wednesday, January 17th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $70.60.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Occidental Petroleum had a return on equity of 3.29% and a net margin of 9.88%. During the same quarter in the prior year, the firm posted ($0.13) EPS. analysts forecast that Occidental Petroleum Co. will post 2.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 9th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.52%. Occidental Petroleum’s payout ratio is currently 180.12%.
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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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