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Stocks That Fell to 3-Year Lows the Week of May 3

- By Shuda Xia

Occidental Petroleum Corp. (OXY), Canon Inc. (CAJ), Annaly Capital Management Inc. (NLY) and AGNC Investment Corp. (AGNC) have declined to their three-year lows.

Occidental Petroleum declined to $57.95

The price of Occidental Petroleum shares declined to $57.95 on May 3, which is only 1.9% above the three-year low of $56.83.


The oil and gas exploration and production company has operations in the United States, the Middle East and Latin America. It is engaged in petrochemical manufacturing in the U.S., Canada and Chile. The company was the ninth-largest petroleum producer in Texas in 2018.

Occidental has a market cap of $43.34 billion; its shares were traded around $57.95 with a price-earnings ratio of 10.75 and a price-sales ratio of 2.48. The trailing 12-month dividend yield is 5.35%. The forward dividend yield is 5.44%.

On April 30, Occidental announced Berkshire Hathaway Inc. (BRK.A)(BRK.B) has committed to invest $10 billion in the company. The investment is contingent upon Occidental entering into and completing its proposed acquisition of Anadarko Petroleum Corp. (APC). Berkshire will receive 100,000 shares of cumulative perpetual preferred stock with a liquidation value of $100,000 per share.

Canon declined to $27.66

The price of Canon shares declined to $27.66 on May 3, which is only 4.7% above the three-year low of $26.37.

The Japanese company manufactures imaging and optical products. Some of the company's products include cameras, camcorders, photocoperies, steppers and computer printers. The company has a primary listing on the Tokyo Stock Exchange and a secondary listing on the New York Stock Exchange. The company is also a component of the TOPIX Core 30.

Canon has a market cap of $29.91 billion; its shares were traded around $27.66 with a price-earnings ratio of 14.69 and a price-sales ratio of 0.87. The trailing 12-month dividend yield is 5.22%. The forward dividend yield is 5.24%. The company had an annual average earnings growth of 0.10% over the past 10 years.

On April 9, Canon announced it is expanding the PRISMAsync Print Server Family by introducing the PRISMAsync Print Server V7 and PRISMAsync Print Sever LP. The new print server offers capabilities to help improve print quality, productivity and versatility of the new Canon imagePRESS C910 color digital press series.

Annaly Capital Management declined to $9.70

The price of Annaly Capital shares declined to $9.70 on May 3, which is only 1.3% above the three-year low of $9.57.

Annaly Capital is an American mortgage real estate investment trust. The company borrows money via short-term repurchase agreements and reinvests the proceeds in asset-backed securities. The company generates profits from the net interest spread between the interest it earns from assets and borrowing costs.

The company has a market cap of $14.05 billion; its shares were traded around $9.70 with a price-sales ratio of 18.03. The trailing 12-month dividend yield is 9.28%. The forward dividend yield is 12.30%.

On May 1, Annaly Capital announced financial results for the quarter ended March 31. GAAP net loss was 63 cents per common share for the quarter, while core earnings were 29 cents per share. The company's portfolio grew 12%, driven by purchases of Agency MBS. The company purchased or originated over $1 billion of credit assets during the quarter.

AGNC Investment declined to $17.53

The price of AGNC Investment shares declined to $17.53 on May 3, which is only 3.3% above the three-year low of $16.96.

AGNC is an American internally managed mortgage REIT that focuses on investing in agency mortgage-backed securities on a leveraged basis. The company generates income from the interest earned on the investment assets, net of associated borrowing and hedging costs, and net realized gains and losses on its investments.

The company has a market cap of $9.4 billion; its shares were traded around $17.53 with a price-earnings ratio of 29.19 and a price-sales ratio of 19.33. The trailing 12-month dividend yield is 12.33%. The forward dividend yield is 12.31%.

On April 24, AGNC Investment reported financial results for the quarter ended March 31. Net income per common share was 47 cents, while dollar roll income per common share was 52 cents. Tangible net book value per common share was $17.23 as of March 31.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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This article first appeared on GuruFocus.