Eagle Asset Management Inc. decreased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 12.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of OXY. State Street Corp raised its stake in shares of Occidental Petroleum Corporation by 2.9% in the fourth quarter. Franklin Resources Inc. now owns 13,345,159 shares of the oil and gas producer’s stock worth $950,580,000 after buying an additional 1,583,197 shares in the last quarter. On average, equities analysts predict that Occidental Petroleum Corporation will post $0.98 earnings per share for the current fiscal year. Regis Management CO LLC now owns 45,548 shares of the oil and gas producer’s stock worth $2,886,000 after buying an additional 146 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Occidental Petroleum during the first quarter valued at about $102,000. The Lowe Brockenbrough & Company Inc holds 107,993 shares with $11.30 million value, up from 97,729 last quarter. Macquarie Group Ltd. increased its position in shares of Occidental Petroleum Corporation by 1.7% in the fourth quarter. Naples Global Advsrs Limited Co invested 0.18% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY). Bank of America upgraded the shares of OXY in report on Wednesday, March 15 to “Buy” rating. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $78.48. In this connection, independent energy company Hess has agreed to divest some of its stakes to Occidental for $600m. The company’s 50-day moving average is $60.51 and its 200-day moving average is $65.35.
Currently, the market capitalization of Occidental Petroleum Corporation (OXY) is 47.43 Billion. The oil and gas producer reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. Occidental Petroleum Corporation had a negative net margin of 4.82% and a negative return on equity of 1.04%. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter previous year, the firm posted ($0.47) EPS. The firm’s revenue was up 30.6% on a year-over-year basis. The stock of Occidental Petroleum Corporation (NYSE:OXY) earned “Neutral” rating by JP Morgan on Wednesday, May 10.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 9th will be given a dividend of $0.76 per share. This rating score is based on a 1-5 scale where a 5 would reveal a Strong Buy, a 4 indicates a Moderate Buy, 3 would equal to a hold, 2 means a moderate sell, and a rating of 1 would display a Strong Sell. The ex-dividend date is Wednesday, June 7th. In our current pick, Occidental Petroleum Corporation (OXY) has weekly volatility of 2.27%% while its monthly volatility value is at 2.19%%.
TRADEMARK VIOLATION NOTICE: This piece of content was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another website, it was illegally copied and reposted in violation of USA & global trademark and copyright laws. The correct version of this news story can be accessed at [[permalink]].
A number of brokerages recently commented on OXY. Finally, Barclays PLC reaffirmed a “sell” rating and issued a $50.00 target price (down from $62.00) on shares of Occidental Petroleum in a research report on Thursday, April 20th.
Among 16 analysts covering PepsiCo (NYSE:PEP), 7 have Buy rating, 0 Sell and 9 Hold. Jefferies Group LLC reissued a “hold” rating and set a $73.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, March 31st.
Now the shares of Occidental Petroleum Corporation (OXY) has a trading volume of 6.82 Million shares, with an average trading volume of 5330 shares – with shares dropping to a 52 week low of $57.20, and the company’s shares hitting a 52 week high of $ 78.48. Finally, Scotiabank reaffirmed a “hold” rating and issued a $68.00 target price on shares of Occidental Petroleum Corporation in a report on Monday, May 15th. Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $71.58.
Oxy said it expects the transactions to close by August 1. The shares were acquired at an average price of $59.85 per share, for a total transaction of $101,745.00. Jacobs Asset Mngmt Limited Com owns 2.1% invested in Heritage Financial Corp (NASDAQ:HFWA) for 386,268 shares. The acquisition was disclosed in a filing with the SEC, which is available at this link. Gofen & Glossberg Llc sold 5,404 shares as Target (TGT)’s stock declined 14.90%. Following the transaction, the director now directly owns 1,484,619 shares of the company’s stock, valued at $94,466,306.97. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock valued at $1,999,000 over the last 90 days. Webster Bancorp N A owns 16,451 shares for 0.17% of their portfolio. The deals also add 3,500 barrels of oil equivalent to Oxy’s production in what the company views as “effectively a swap”.
The EOR process harnesses the carbon dioxide produced during the extraction of oil, from power plants or from natural sources, and forces it back into aging oil fields.