Ashburton Jersey Ltd grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 22.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 17,600 shares of the oil and gas producer’s stock after acquiring an additional 3,230 shares during the period. Occidental Petroleum comprises 0.7% of Ashburton Jersey Ltd’s holdings, making the stock its 19th largest holding. Ashburton Jersey Ltd’s holdings in Occidental Petroleum were worth $1,473,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in OXY. UBS Oconnor LLC acquired a new stake in Occidental Petroleum in the fourth quarter worth $4,604,000. American Trust Investment Advisors LLC acquired a new stake in Occidental Petroleum in the fourth quarter worth $2,435,000. Gradient Investments LLC lifted its stake in shares of Occidental Petroleum by 1,754.1% in the fourth quarter. Gradient Investments LLC now owns 129,026 shares of the oil and gas producer’s stock valued at $7,920,000 after buying an additional 122,067 shares in the last quarter. United Capital Management of KS Inc. lifted its stake in shares of Occidental Petroleum by 19.7% in the fourth quarter. United Capital Management of KS Inc. now owns 3,630 shares of the oil and gas producer’s stock valued at $223,000 after buying an additional 597 shares in the last quarter. Finally, IndexIQ Advisors LLC lifted its stake in shares of Occidental Petroleum by 67.4% in the third quarter. IndexIQ Advisors LLC now owns 8,424 shares of the oil and gas producer’s stock valued at $692,000 after buying an additional 3,391 shares in the last quarter. 84.34% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on OXY. ValuEngine lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Zacks Investment Research lowered shares of Occidental Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, January 11th. Citigroup lowered shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $72.00 in a research note on Tuesday, February 19th. Morgan Stanley set a $72.00 price target on shares of Occidental Petroleum and gave the company a “buy” rating in a research report on Thursday, February 14th. Finally, Mizuho reissued a “buy” rating and set a $82.00 price target on shares of Occidental Petroleum in a research report on Wednesday, February 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $83.80.
Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.39 billion. Occidental Petroleum had a net margin of 21.87% and a return on equity of 18.17%. The company’s revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. On average, sell-side analysts expect that Occidental Petroleum Co. will post 3.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 11th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, March 8th. This represents a $3.12 annualized dividend and a yield of 5.05%. Occidental Petroleum’s dividend payout ratio is currently 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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