Buckley Wealth Management LLC lifted its stake in Occidental Petroleum Co. (NYSE:OXY) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,936 shares of the oil and gas producer’s stock after purchasing an additional 1,520 shares during the period. Buckley Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,187,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. UBS Oconnor LLC bought a new position in Occidental Petroleum during the 4th quarter worth about $4,604,000. American Trust Investment Advisors LLC bought a new position in Occidental Petroleum during the 4th quarter worth about $2,435,000. Gradient Investments LLC grew its holdings in Occidental Petroleum by 1,754.1% during the 4th quarter. Gradient Investments LLC now owns 129,026 shares of the oil and gas producer’s stock worth $7,920,000 after acquiring an additional 122,067 shares in the last quarter. United Capital Management of KS Inc. grew its holdings in Occidental Petroleum by 19.7% during the 4th quarter. United Capital Management of KS Inc. now owns 3,630 shares of the oil and gas producer’s stock worth $223,000 after acquiring an additional 597 shares in the last quarter. Finally, IndexIQ Advisors LLC grew its holdings in Occidental Petroleum by 67.4% during the 3rd quarter. IndexIQ Advisors LLC now owns 8,424 shares of the oil and gas producer’s stock worth $692,000 after acquiring an additional 3,391 shares in the last quarter. Hedge funds and other institutional investors own 84.34% of the company’s stock.
OXY has been the topic of several recent research reports. Zacks Investment Research cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. KeyCorp cut shares of Occidental Petroleum from an “overweight” rating to a “sector weight” rating in a report on Wednesday, April 24th. 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. Mizuho cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $83.00 to $70.00 in a report on Monday, April 22nd. Finally, Barclays cut shares of Occidental Petroleum from an “overweight” rating to an “underweight” rating and lowered their price target for the company from $77.00 to $70.00 in a report on Friday, February 15th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $78.97.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, February 12th. The oil and gas producer reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.10. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.39 billion. Occidental Petroleum had a net margin of 21.87% and a return on equity of 18.17%. Occidental Petroleum’s revenue was up 33.8% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. Analysts expect that Occidental Petroleum Co. will post 3.64 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 11th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 5.38%. The ex-dividend date was Friday, March 8th. Occidental Petroleum’s payout ratio is currently 62.28%.
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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