Inkwell Capital LLC Has $2.48 Million Position in Occidental Petroleum Corporation $OXY

Inkwell Capital LLC grew its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 9.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,123 shares of the oil and gas producer’s stock after acquiring an additional 5,221 shares during the period. Occidental Petroleum accounts for approximately 2.7% of Inkwell Capital LLC’s holdings, making the stock its 22nd largest position. Inkwell Capital LLC’s holdings in Occidental Petroleum were worth $2,484,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northeast Financial Consultants Inc lifted its stake in shares of Occidental Petroleum by 0.4% in the 1st quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer’s stock valued at $2,890,000 after purchasing an additional 242 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Occidental Petroleum by 3.8% in the second quarter. Inspire Investing LLC now owns 6,720 shares of the oil and gas producer’s stock worth $282,000 after buying an additional 247 shares during the last quarter. S.A. Mason LLC boosted its stake in shares of Occidental Petroleum by 5.9% during the 2nd quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer’s stock worth $223,000 after acquiring an additional 295 shares in the last quarter. Moody National Bank Trust Division increased its holdings in shares of Occidental Petroleum by 2.0% during the 2nd quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer’s stock valued at $644,000 after acquiring an additional 300 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its stake in shares of Occidental Petroleum by 3.7% in the 2nd quarter. Verdence Capital Advisors LLC now owns 8,437 shares of the oil and gas producer’s stock valued at $354,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on OXY shares. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. UBS Group decreased their price objective on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday, October 8th. Susquehanna boosted their target price on shares of Occidental Petroleum from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday. Finally, Evercore ISI lowered their price target on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.24.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $42.75 on Monday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The firm’s 50-day moving average is $43.74 and its 200-day moving average is $43.75. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $53.20. The company has a market cap of $42.12 billion, a price-to-earnings ratio of 25.29 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The firm had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same period in the previous year, the company posted $1.00 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 70.59%.

Occidental Petroleum Company 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.