Hancock Whitney Corp cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 74.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,017 shares of the oil and gas producer’s stock after selling 11,680 shares during the quarter. Hancock Whitney Corp’s holdings in Occidental Petroleum were worth $246,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of Occidental Petroleum by 7.9% in the fourth quarter. Legal & General Group Plc now owns 3,835,306 shares of the oil and gas producer’s stock worth $235,383,000 after buying an additional 282,113 shares in the last quarter. BRYN MAWR TRUST Co grew its holdings in shares of Occidental Petroleum by 1.5% in the fourth quarter. BRYN MAWR TRUST Co now owns 186,891 shares of the oil and gas producer’s stock worth $11,472,000 after purchasing an additional 2,805 shares during the last quarter. IHT Wealth Management LLC grew its holdings in Occidental Petroleum by 13.2% during the 4th quarter. IHT Wealth Management LLC now owns 9,534 shares of the oil and gas producer’s stock worth $585,000 after acquiring an additional 1,110 shares in the last quarter. Worldquant Millennium Quantitative Strategies LLC grew its holdings in Occidental Petroleum by 262.7% during the 4th quarter. Worldquant Millennium Quantitative Strategies LLC now owns 367,699 shares of the oil and gas producer’s stock worth $22,569,000 after acquiring an additional 266,331 shares in the last quarter. Finally, Cipher Capital LP bought a new position in Occidental Petroleum during the 4th quarter worth about $1,246,000. Hedge funds and other institutional investors own 84.34% of the company’s stock.
Several research analysts have issued reports on OXY shares. Zacks Investment Research cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Morgan Stanley set a $72.00 target price on shares of Occidental Petroleum and gave the stock a “buy” rating in a report on Thursday, February 14th. KeyCorp dropped their target price on shares of Occidental Petroleum from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday. Mizuho lowered shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and decreased their price target for the company from $83.00 to $70.00 in a research report on Monday. Finally, Barclays lowered shares of Occidental Petroleum from an “overweight” rating to an “underweight” rating and decreased their price target for the company from $77.00 to $70.00 in a research report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $82.67.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 12th. The oil and gas producer reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Occidental Petroleum had a net margin of 21.87% and a return on equity of 18.17%. The business’s revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Analysts anticipate that Occidental Petroleum Co. will post 3.62 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 11th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.12 dividend on an annualized basis and a yield of 5.03%. Occidental Petroleum’s dividend payout ratio is currently 62.28%.
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Occidental Petroleum Company Profile
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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