Signet Investment Advisory Group Inc. bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,028 shares of the oil and gas producer’s stock, valued at approximately $185,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OXY. FMR LLC grew its stake in Occidental Petroleum by 232.5% during the second quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock worth $506,194,000 after purchasing an additional 4,230,065 shares during the period. Dodge & Cox grew its stake in Occidental Petroleum by 58.7% during the third quarter. Dodge & Cox now owns 9,887,895 shares of the oil and gas producer’s stock worth $812,488,000 after purchasing an additional 3,656,670 shares during the period. Capital World Investors grew its stake in Occidental Petroleum by 9.6% during the third quarter. Capital World Investors now owns 23,423,802 shares of the oil and gas producer’s stock worth $1,924,734,000 after purchasing an additional 2,056,863 shares during the period. BlackRock Inc. grew its stake in Occidental Petroleum by 3.4% during the third quarter. BlackRock Inc. now owns 52,574,756 shares of the oil and gas producer’s stock worth $4,320,067,000 after purchasing an additional 1,732,733 shares during the period. Finally, Swedbank acquired a new stake in Occidental Petroleum during the third quarter worth approximately $112,990,000. 81.34% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on OXY shares. Morgan Stanley decreased their target price on Occidental Petroleum from $96.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, November 20th. Zacks Investment Research raised Occidental Petroleum from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Wednesday, October 10th. Citigroup reduced their price objective on Occidental Petroleum from $97.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. Argus reissued a “buy” rating and issued a $97.00 price objective on shares of Occidental Petroleum in a research note on Monday, November 26th. Finally, Capital One Financial cut Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Occidental Petroleum has an average rating of “Buy” and a consensus price target of $87.16.
Shares of Occidental Petroleum stock opened at $68.04 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.33 and a debt-to-equity ratio of 0.47. Occidental Petroleum Co. has a 52 week low of $56.83 and a 52 week high of $87.67. The company has a market capitalization of $51.37 billion, a price-to-earnings ratio of 76.45, a PEG ratio of 3.07 and a beta of 0.88.
Occidental Petroleum (NYSE:OXY) last announced its earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.26. The company had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $4.60 billion. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. Occidental Petroleum’s quarterly revenue was up 98.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 earnings per share. As a group, research analysts predict that Occidental Petroleum Co. will post 4.93 EPS for the current year.
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About Occidental Petroleum
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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