Raymond James Financial Services Advisors Inc. Buys 17,131 Shares of Occidental Petroleum Co. (OXY)

Raymond James Financial Services Advisors Inc. lifted its stake in Occidental Petroleum Co. (NYSE:OXY) by 5.4% during the 1st quarter, Holdings Channel reports. The firm owned 332,720 shares of the oil and gas producer’s stock after acquiring an additional 17,131 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Occidental Petroleum were worth $22,028,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc boosted its position in shares of Occidental Petroleum by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 62,477,713 shares of the oil and gas producer’s stock worth $5,133,793,000 after purchasing an additional 1,370,841 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Occidental Petroleum by 7.9% in the 4th quarter. Macquarie Group Ltd. now owns 10,146,677 shares of the oil and gas producer’s stock worth $622,804,000 after purchasing an additional 744,802 shares during the last quarter. Northern Trust Corp boosted its position in shares of Occidental Petroleum by 2.6% in the 4th quarter. Northern Trust Corp now owns 9,890,631 shares of the oil and gas producer’s stock worth $607,087,000 after purchasing an additional 246,720 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Occidental Petroleum by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 9,152,375 shares of the oil and gas producer’s stock worth $560,842,000 after purchasing an additional 316,507 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Occidental Petroleum in the 4th quarter worth $475,929,000. Institutional investors and hedge funds own 84.05% of the company’s stock.

OXY opened at $53.75 on Friday. Occidental Petroleum Co. has a 1 year low of $53.12 and a 1 year high of $87.67. The stock has a market capitalization of $40.57 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 2.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.23.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. Occidental Petroleum’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. On average, analysts expect that Occidental Petroleum Co. will post 3.9 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s dividend payout ratio is currently 62.28%.

OXY has been the topic of several recent analyst reports. KeyCorp reduced their target price on Occidental Petroleum from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. ValuEngine lowered Occidental Petroleum from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 30th. Atlantic Securities lowered Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 target price on the stock. in a report on Thursday, April 25th. Barclays lowered Occidental Petroleum from an “overweight” rating to an “underweight” rating and reduced their target price for the stock from $77.00 to $70.00 in a report on Friday, February 15th. Finally, Zacks Investment Research upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $75.01.

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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.

Further Reading: When is a capital gain realized?

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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