Occidental Petroleum Corporation $OXY Position Boosted by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 16.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,281 shares of the oil and gas producer’s stock after purchasing an additional 1,197 shares during the period. Concurrent Investment Advisors LLC’s holdings in Occidental Petroleum were worth $348,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in OXY. Vanguard Group Inc. boosted its position in shares of Occidental Petroleum by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock valued at $3,960,202,000 after purchasing an additional 12,107,285 shares in the last quarter. Nuveen LLC bought a new position in shares of Occidental Petroleum during the 1st quarter valued at about $99,853,000. Dimensional Fund Advisors LP boosted its position in shares of Occidental Petroleum by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock valued at $401,162,000 after purchasing an additional 710,220 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Occidental Petroleum by 926.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock valued at $38,381,000 after purchasing an additional 701,846 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Occidental Petroleum during the 2nd quarter valued at about $28,584,000. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on OXY. Bank of America raised their price objective on shares of Occidental Petroleum from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Occidental Petroleum in a research note on Wednesday, October 8th. Scotiabank raised their target price on shares of Occidental Petroleum from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Piper Sandler raised their target price on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $52.43.

Occidental Petroleum Stock Performance

Shares of OXY opened at $40.91 on Monday. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $53.20. The company has a 50-day moving average of $45.46 and a two-hundred day moving average of $43.39. The stock has a market cap of $40.28 billion, a price-to-earnings ratio of 24.21 and a beta of 0.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83.

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

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Occidental Petroleum’s payout ratio is presently 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.