Leavell Investment Management Inc. Raises Position in Occidental Petroleum Corporation $OXY

Leavell Investment Management Inc. raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 79.6% during the second quarter, HoldingsChannel reports. The firm owned 11,294 shares of the oil and gas producer’s stock after buying an additional 5,005 shares during the quarter. Leavell Investment Management Inc.’s holdings in Occidental Petroleum were worth $477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OXY. GAMMA Investing LLC raised its position in Occidental Petroleum by 28.4% during the first quarter. GAMMA Investing LLC now owns 6,816 shares of the oil and gas producer’s stock valued at $336,000 after purchasing an additional 1,507 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Occidental Petroleum by 30.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,919 shares of the oil and gas producer’s stock valued at $3,609,000 after purchasing an additional 17,208 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Occidental Petroleum by 9.7% during 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 purchasing an additional 140,528 shares during the period. Verity Asset Management Inc. raised its holdings in shares of Occidental Petroleum by 92.5% in the first quarter. Verity Asset Management Inc. now owns 38,328 shares of the oil and gas producer’s stock worth $1,892,000 after buying an additional 18,415 shares during the period. Finally, Amalgamated Bank raised its holdings in shares of Occidental Petroleum by 1.5% in the first quarter. Amalgamated Bank now owns 131,727 shares of the oil and gas producer’s stock worth $6,502,000 after buying an additional 1,929 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Down 0.6%

Shares of NYSE OXY opened at $42.31 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $41.65 billion, a PE ratio of 25.03 and a beta of 0.95. The stock’s fifty day simple moving average is $45.17 and its two-hundred day simple moving average is $43.52. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $53.20.

Occidental Petroleum (NYSE:OXY) last announced its 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. The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. As a group, analysts expect that Occidental Petroleum Corporation will post 3.58 EPS 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 given a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 56.80%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OXY. JPMorgan Chase & Co. increased their price target on Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Melius Research began coverage on Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target on the stock. HSBC upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and increased their price target for the stock from $48.00 to $55.00 in a report on Friday, October 3rd. Mizuho upgraded Occidental Petroleum from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $58.00 to $60.00 in a report on Friday, October 3rd. Finally, Wall Street Zen downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $52.26.

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.