Allspring Global Investments Holdings LLC Has $15.69 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Occidental Petroleum Co. (NYSE:OXYGet Rating) by 76.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 255,407 shares of the oil and gas producer’s stock after acquiring an additional 110,386 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Occidental Petroleum were worth $15,694,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. CAPROCK Group Inc. raised its stake in shares of Occidental Petroleum by 1.7% during the 2nd quarter. CAPROCK Group Inc. now owns 9,737 shares of the oil and gas producer’s stock worth $575,000 after purchasing an additional 164 shares in the last quarter. Rosenberg Matthew Hamilton raised its stake in shares of Occidental Petroleum by 3.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 5,209 shares of the oil and gas producer’s stock worth $320,000 after purchasing an additional 171 shares in the last quarter. Miller Wealth Advisors LLC raised its stake in shares of Occidental Petroleum by 9.8% during the 2nd quarter. Miller Wealth Advisors LLC now owns 1,973 shares of the oil and gas producer’s stock worth $116,000 after purchasing an additional 176 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Occidental Petroleum by 1.5% during the 1st quarter. Lazard Asset Management LLC now owns 11,920 shares of the oil and gas producer’s stock worth $676,000 after purchasing an additional 180 shares in the last quarter. Finally, Richelieu Gestion PLC raised its stake in shares of Occidental Petroleum by 5.0% in the 3rd quarter. Richelieu Gestion PLC now owns 4,200 shares of the oil and gas producer’s stock valued at $258,000 after acquiring an additional 200 shares in the last quarter. 78.45% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $64.09 on Thursday. Occidental Petroleum Co. has a 1-year low of $31.37 and a 1-year high of $77.13. The firm has a market capitalization of $58.25 billion, a PE ratio of 5.34, a PEG ratio of 0.39 and a beta of 1.78. The business’s 50 day moving average is $66.84 and its 200-day moving average is $65.69. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 1.08.

Occidental Petroleum (NYSE:OXYGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The oil and gas producer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.04). The company had revenue of $9.50 billion during the quarter, compared to analyst estimates of $9.35 billion. Occidental Petroleum had a net margin of 35.11% and a return on equity of 59.90%. Sell-side analysts predict that Occidental Petroleum Co. will post 9.63 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 12th. Investors of record on Monday, December 12th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, December 9th. Occidental Petroleum’s dividend payout ratio is 4.33%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Bank of America raised Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Friday, January 6th. Jefferies Financial Group assumed coverage on Occidental Petroleum in a research note on Wednesday, October 19th. They issued a “hold” rating on the stock. StockNews.com assumed coverage on Occidental Petroleum in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Barclays cut their price objective on Occidental Petroleum from $84.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 7th. Finally, Citigroup raised their target price on Occidental Petroleum from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, November 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.18.

Occidental Petroleum Profile

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Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

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

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