Southeast Asset Advisors LLC Boosts Stock Position in Occidental Petroleum Corporation $OXY

Southeast Asset Advisors LLC grew its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 35.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,443 shares of the oil and gas producer’s stock after purchasing an additional 9,234 shares during the quarter. Southeast Asset Advisors LLC’s holdings in Occidental Petroleum were worth $1,489,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Quadcap Wealth Management LLC grew its stake in Occidental Petroleum by 6.5% in the second quarter. Quadcap Wealth Management LLC now owns 12,155 shares of the oil and gas producer’s stock worth $511,000 after purchasing an additional 745 shares in the last quarter. Insigneo Advisory Services LLC grew its position in shares of Occidental Petroleum by 33.4% during the 2nd quarter. Insigneo Advisory Services LLC now owns 10,611 shares of the oil and gas producer’s stock worth $446,000 after buying an additional 2,657 shares in the last quarter. CreativeOne Wealth LLC increased its stake in shares of Occidental Petroleum by 15.0% during the second quarter. CreativeOne Wealth LLC now owns 59,192 shares of the oil and gas producer’s stock valued at $2,487,000 after buying an additional 7,704 shares during the period. Coldstream Capital Management Inc. increased its position in Occidental Petroleum by 23.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 20,973 shares of the oil and gas producer’s stock valued at $881,000 after purchasing an additional 4,000 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Occidental Petroleum by 11.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,955,130 shares of the oil and gas producer’s stock worth $208,165,000 after purchasing an additional 522,408 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Up 0.1%

OXY stock opened at $41.50 on Tuesday. The business’s 50-day moving average is $43.26 and its 200 day moving average is $43.82. The stock has a market cap of $40.89 billion, a price-to-earnings ratio of 24.56 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $53.20.

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

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be given a $0.24 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Occidental Petroleum’s payout ratio is currently 70.59%.

Wall Street Analyst Weigh In

Several analysts have issued reports on OXY shares. Citigroup dropped their target price on Occidental Petroleum from $49.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Evercore ISI reduced their price objective on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research note on Friday, October 3rd. Melius Research initiated coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Occidental Petroleum in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Occidental Petroleum from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. One investment 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 given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.19.

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.