Occidental Petroleum Corporation $OXY Shares Bought by Oxbow Advisors LLC

Oxbow Advisors LLC raised its position in Occidental Petroleum Corporation (NYSE:OXY) by 33.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,045 shares of the oil and gas producer’s stock after buying an additional 1,780 shares during the quarter. Oxbow Advisors LLC’s holdings in Occidental Petroleum were worth $296,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in Occidental Petroleum by 4.9% in the 2nd quarter. Nordea Investment Management AB now owns 459,826 shares of the oil and gas producer’s stock valued at $19,446,000 after buying an additional 21,393 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in Occidental Petroleum in the 2nd quarter valued at $1,021,000. Alta Capital Management LLC increased its stake in Occidental Petroleum by 37.9% in the 2nd quarter. Alta Capital Management LLC now owns 13,956 shares of the oil and gas producer’s stock valued at $586,000 after buying an additional 3,837 shares during the period. New York State Teachers Retirement System increased its stake in Occidental Petroleum by 0.3% in the 2nd quarter. New York State Teachers Retirement System now owns 491,417 shares of the oil and gas producer’s stock valued at $20,644,000 after buying an additional 1,375 shares during the period. Finally, Triton Wealth Management PLLC acquired a new position in shares of Occidental Petroleum during the 2nd quarter worth $275,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on OXY shares. Wells Fargo & Company lowered their price target 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 upped their price target for the stock from $48.00 to $55.00 in a research note on Friday, October 3rd. Piper Sandler upped their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Scotiabank upped their price target on shares of Occidental Petroleum from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Finally, Melius started coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $52.61.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $41.00 on Friday. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The firm’s 50-day simple moving average is $45.53 and its 200 day simple moving average is $43.49. The firm has a market capitalization of $40.36 billion, a PE ratio of 24.26 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.29 billion. During the same period in the previous year, the firm earned $1.03 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio is 56.80%.

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, 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.