Aberdeen Group plc Acquires 30,746 Shares of Occidental Petroleum Corporation $OXY

Aberdeen Group plc lifted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 731,158 shares of the oil and gas producer’s stock after purchasing an additional 30,746 shares during the quarter. Aberdeen Group plc owned 0.07% of Occidental Petroleum worth $30,716,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Grove Bank & Trust increased its holdings in shares of Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 407 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Occidental Petroleum during the first quarter worth approximately $39,000. Spectrum Wealth Counsel LLC increased its stake in Occidental Petroleum by 5,000.0% in the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 1,000 shares during the last quarter. Ransom Advisory Ltd bought a new position in Occidental Petroleum in the first quarter valued at approximately $54,000. Finally, Trifecta Capital Advisors LLC increased its stake in Occidental Petroleum by 4,393.9% in the first quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer’s stock valued at $73,000 after acquiring an additional 1,450 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OXY. Wells Fargo & Company decreased their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 15th. HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and lifted their price objective for the company from $48.00 to $55.00 in a research note on Friday, October 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Hsbc Global Res raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, Scotiabank raised their target price on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $52.52.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $42.22 on Monday. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $55.24. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The firm has a market capitalization of $41.56 billion, a P/E ratio of 24.98 and a beta of 0.95. The company’s 50 day moving average price is $45.62 and its two-hundred day moving average price is $43.61.

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

Occidental Petroleum Dividend Announcement

The firm also recently declared 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 2.3%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s payout ratio is 56.80%.

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.