Liberty One Investment Management LLC boosted its position in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 21.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,908 shares of the oil and gas producer’s stock after acquiring an additional 1,223 shares during the period. Liberty One Investment Management LLC’s holdings in Occidental Petroleum were worth $290,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Occidental Petroleum in the first quarter valued at about $1,274,000. Kestra Private Wealth Services LLC boosted its holdings in Occidental Petroleum by 5.6% in the first quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock valued at $843,000 after acquiring an additional 906 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Occidental Petroleum by 9.7% in the first 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 acquiring an additional 140,528 shares during the last quarter. swisspartners Advisors Ltd bought a new position in Occidental Petroleum during the first quarter worth about $6,006,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Occidental Petroleum by 77.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 139,086 shares of the oil and gas producer’s stock worth $5,843,000 after buying an additional 60,793 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on OXY. Piper Sandler reduced their target price on Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday. Wells Fargo & Company began coverage on Occidental Petroleum in a report on Friday, October 17th. They set an “underweight” rating and a $42.00 target price on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday, October 8th. Morgan Stanley restated an “equal weight” rating and set a $52.00 target price on shares of Occidental Petroleum in a report on Monday, August 18th. Finally, Melius Research began coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price on the stock. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $52.26.
Occidental Petroleum Trading Down 0.2%
NYSE:OXY opened at $40.93 on Wednesday. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. 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 stock has a market capitalization of $40.29 billion, a PE ratio of 24.22 and a beta of 0.95. The business’s 50-day simple moving average is $45.34 and its 200-day simple moving average is $43.37.
Occidental Petroleum (NYSE:OXY – Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter in the previous year, the business posted $1.03 EPS. Occidental Petroleum’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.
Occidental Petroleum Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was 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.
See Also
- Five stocks we like better than Occidental Petroleum
- Are Penny Stocks a Good Fit for Your Portfolio?
- 2 Ways to Trade Qualcomm Ahead of November’s Earnings
- Most active stocks: Dollar volume vs share volume
- Lululemon: 2 Signs the Bottom Is In, and 1 Sign It Isn’t
- What Are the U.K. Market Holidays? How to Invest and Trade
- Got 1K to Invest? These 3 Stocks Are Still Attractive Buys
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.