Fiera Capital Corp purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,827 shares of the oil and gas producer’s stock, valued at approximately $571,000.
Several other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. lifted its stake in shares of Occidental Petroleum by 54.5% during the 2nd quarter. Victory Capital Management Inc. now owns 368,629 shares of the oil and gas producer’s stock worth $30,847,000 after purchasing an additional 129,963 shares during the period. First Trust Advisors LP lifted its stake in shares of Occidental Petroleum by 213.0% during the 2nd quarter. First Trust Advisors LP now owns 396,694 shares of the oil and gas producer’s stock worth $33,195,000 after purchasing an additional 269,964 shares during the period. TCW Group Inc. lifted its stake in shares of Occidental Petroleum by 3.4% during the 2nd quarter. TCW Group Inc. now owns 21,697 shares of the oil and gas producer’s stock worth $1,815,000 after purchasing an additional 705 shares during the period. NuWave Investment Management LLC lifted its stake in shares of Occidental Petroleum by 384.5% during the 2nd quarter. NuWave Investment Management LLC now owns 5,581 shares of the oil and gas producer’s stock worth $467,000 after purchasing an additional 4,429 shares during the period. Finally, Balasa Dinverno & Foltz LLC purchased a new position in shares of Occidental Petroleum during the 2nd quarter worth $251,000. 80.55% of the stock is currently owned by institutional investors.
Shares of OXY opened at $79.66 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.36. The firm has a market capitalization of $60.24 billion, a P/E ratio of 89.51, a PEG ratio of 2.55 and a beta of 0.63. Occidental Petroleum Co. has a twelve month low of $58.44 and a twelve month high of $87.67.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 10th will be given a $0.78 dividend. The ex-dividend date is Friday, September 7th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a yield of 3.92%. Occidental Petroleum’s dividend payout ratio (DPR) is 346.07%.
In related news, Director William R. Klesse acquired 5,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were bought at an average cost of $78.55 per share, with a total value of $392,750.00. Following the completion of the transaction, the director now directly owns 77,963 shares of the company’s stock, valued at approximately $6,123,993.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.
A number of research analysts have weighed in on OXY shares. Citigroup raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 5th. Morgan Stanley started coverage on Occidental Petroleum in a research report on Thursday, July 12th. They issued an “overweight” rating and a $100.00 target price on the stock. Capital One Financial raised Occidental Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 29th. Jefferies Financial Group raised Occidental Petroleum from a “hold” rating to a “buy” rating and increased their target price for the stock from $87.00 to $98.00 in a research report on Monday, June 11th. Finally, Scotiabank raised Occidental Petroleum from a “sector perform” rating to an “outperform” rating in a research report on Monday, May 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $83.27.
Occidental Petroleum Company Profile
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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