Comerica Bank Has $8.95 Million Position in Occidental Petroleum Co. (NYSE:OXY)


Comerica Bank lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 6.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 220,419 shares of the oil and gas producer’s stock after selling 14,540 shares during the period. Comerica Bank’s holdings in Occidental Petroleum were worth $8,947,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Liberty Wealth Management LLC raised its position in Occidental Petroleum by 36.4% in the third quarter. Liberty Wealth Management LLC now owns 907 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 242 shares in the last quarter. Strategic Investment Advisors MI raised its position in Occidental Petroleum by 6.2% in the third quarter. Strategic Investment Advisors MI now owns 4,673 shares of the oil and gas producer’s stock worth $208,000 after purchasing an additional 274 shares in the last quarter. Glassman Wealth Services raised its position in Occidental Petroleum by 32.3% in the third quarter. Glassman Wealth Services now owns 1,122 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 274 shares in the last quarter. Shulman DeMeo Asset Management LLC raised its position in Occidental Petroleum by 2.3% in the third quarter. Shulman DeMeo Asset Management LLC now owns 12,934 shares of the oil and gas producer’s stock worth $575,000 after purchasing an additional 294 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in Occidental Petroleum by 19.7% in the fourth quarter. Lindbrook Capital LLC now owns 1,786 shares of the oil and gas producer’s stock worth $74,000 after purchasing an additional 294 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

In related news, Director Jack B. Moore purchased 12,900 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were acquired at an average cost of $38.61 per share, with a total value of $498,069.00. Following the completion of the purchase, the director now directly owns 129,203 shares of the company’s stock, valued at $4,988,527.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bob Shearer purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were bought at an average cost of $38.96 per share, for a total transaction of $194,800.00. Following the completion of the purchase, the director now directly owns 24,218 shares of the company’s stock, valued at $943,533.28. The disclosure for this purchase can be found here. 0.15% of the stock is owned by corporate insiders.

Shares of Occidental Petroleum stock opened at $42.51 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.23 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $37.13 billion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 6.69 and a beta of 0.91. Occidental Petroleum Co. has a 1-year low of $37.25 and a 1-year high of $68.83. The firm’s 50-day moving average price is $42.99 and its two-hundred day moving average price is $42.40.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.79 per share. The ex-dividend date is Monday, March 9th. This represents a $3.16 annualized dividend and a dividend yield of 7.43%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 63.07%.

OXY has been the subject of several recent research reports. Morgan Stanley raised shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $51.00 to $59.00 in a research report on Monday, January 13th. Wells Fargo & Co upped their price objective on shares of Occidental Petroleum from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Tudor Pickering raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating and set a $41.00 price objective on the stock in a research note on Friday, January 3rd. UBS Group upped their price objective on shares of Occidental Petroleum from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Mizuho raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $58.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $56.48.

Occidental Petroleum 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.

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



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