Coldstream Capital Management Inc. Grows Stock Position in Occidental Petroleum Corporation $OXY

Coldstream Capital Management Inc. lifted its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 23.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,973 shares of the oil and gas producer’s stock after acquiring an additional 4,000 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Occidental Petroleum were worth $881,000 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. Vanguard Group Inc. increased its stake in shares of Occidental Petroleum by 17.8% in the first quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock worth $3,960,202,000 after purchasing an additional 12,107,285 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Occidental Petroleum by 22.0% in the 2nd quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock worth $756,796,000 after buying an additional 3,267,269 shares during the period. Nuveen LLC purchased a new position in Occidental Petroleum in the 1st quarter valued at approximately $99,853,000. Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 710,220 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of Occidental Petroleum by 926.9% during the first quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock worth $38,381,000 after acquiring an additional 701,846 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Down 0.1%

Shares of NYSE OXY opened at $41.41 on Wednesday. The stock has a market capitalization of $40.79 billion, a P/E ratio of 24.50 and a beta of 0.91. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $53.20. The firm’s 50 day simple moving average is $43.13 and its two-hundred day simple moving average is $43.81. 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 issued its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.16. The company had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.Occidental Petroleum’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 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 business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 annualized dividend and a yield of 2.3%. Occidental Petroleum’s payout ratio is 70.59%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price target on Occidental Petroleum from $47.00 to $46.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. Citigroup reduced their target price on Occidental Petroleum from $49.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Evercore ISI lowered their price target on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a report on Friday, October 3rd. JPMorgan Chase & Co. raised their price objective on shares of Occidental Petroleum from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Finally, Susquehanna upped their target price on shares of Occidental Petroleum from $54.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.52.

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.