Clear Harbor Asset Management LLC Buys 19,132 Shares of Occidental Petroleum Corporation $OXY

Clear Harbor Asset Management LLC increased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 227.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,539 shares of the oil and gas producer’s stock after purchasing an additional 19,132 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Occidental Petroleum were worth $1,157,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Occidental Petroleum in the 1st quarter valued at approximately $1,274,000. Kestra Private Wealth Services LLC grew its stake in Occidental Petroleum by 5.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock valued at $843,000 after buying an additional 906 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Occidental Petroleum by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock valued at $78,813,000 after buying an additional 140,528 shares in the last quarter. swisspartners Advisors Ltd purchased a new position in Occidental Petroleum in the 1st quarter valued at approximately $6,006,000. Finally, Blackhawk Capital Partners LLC. purchased a new position in Occidental Petroleum in the 1st quarter valued at approximately $344,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

NYSE OXY opened at $45.82 on Tuesday. The company has a 50-day simple moving average of $45.09 and a two-hundred day simple moving average of $43.78. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $56.49. The firm has a market cap of $45.11 billion, a price-to-earnings ratio of 27.11 and a beta of 1.04.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. On average, equities analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 56.80%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on OXY shares. Melius Research started coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective for the company. Melius started coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target for the company. UBS Group boosted their price target on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Morgan Stanley restated an “equal weight” rating and set a $52.00 price target on shares of Occidental Petroleum in a research report on Monday, August 18th. Finally, Piper Sandler boosted their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $54.70.

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, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.