Cornerstone Capital Inc. increased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,434 shares of the oil and gas producer’s stock after purchasing an additional 3,220 shares during the period. Occidental Petroleum makes up 1.6% of Cornerstone Capital Inc.’s portfolio, making the stock its 28th biggest position. Cornerstone Capital Inc.’s holdings in Occidental Petroleum were worth $9,166,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. California Public Employees Retirement System grew its stake in Occidental Petroleum by 3.3% during the third quarter. California Public Employees Retirement System now owns 2,047,285 shares of the oil and gas producer’s stock worth $131,456,000 after buying an additional 64,533 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in Occidental Petroleum during the fourth quarter worth about $355,000. Swiss National Bank grew its stake in Occidental Petroleum by 0.9% during the third quarter. Swiss National Bank now owns 2,892,043 shares of the oil and gas producer’s stock worth $185,698,000 after buying an additional 25,100 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Occidental Petroleum during the third quarter worth about $3,792,000. Finally, Synovus Financial Corp grew its stake in Occidental Petroleum by 15.5% during the fourth quarter. Synovus Financial Corp now owns 9,157 shares of the oil and gas producer’s stock worth $673,000 after buying an additional 1,232 shares during the last quarter. 79.86% of the stock is owned by hedge funds and other institutional investors.
OXY has been the topic of several research analyst reports. Jefferies Group upped their price objective on shares of Occidental Petroleum from $62.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. Mizuho reissued a “hold” rating and set a $64.00 price target on shares of Occidental Petroleum in a research note on Friday, November 3rd. Goldman Sachs Group raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Barclays increased their price target on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company an “underweight” rating in a research note on Monday, November 20th. Finally, Scotiabank reissued a “hold” rating and set a $64.00 price target on shares of Occidental Petroleum in a research note on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $70.60.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the firm earned ($0.13) earnings per share. equities research analysts predict that Occidental Petroleum Co. will post 2.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 9th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.51%. Occidental Petroleum’s payout ratio is presently 180.12%.
COPYRIGHT VIOLATION NOTICE: “Cornerstone Capital Inc. Acquires 3,220 Shares of Occidental Petroleum Co. (OXY)” was reported by Ticker Report and is the property of of Ticker Report. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/3223885/cornerstone-capital-inc-acquires-3220-shares-of-occidental-petroleum-co-oxy.html.
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.
Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Co. (NYSE:OXY).
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.