First Trust Advisors LP Increases Stock Position in Occidental Petroleum Corporation $OXY

First Trust Advisors LP boosted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 41.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,636,367 shares of the oil and gas producer’s stock after purchasing an additional 475,466 shares during the period. First Trust Advisors LP’s holdings in Occidental Petroleum were worth $106,364,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Woodline Partners LP boosted its stake in shares of Occidental Petroleum by 40.7% during the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock valued at $2,817,000 after purchasing an additional 16,506 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $4,584,000. Federated Hermes Inc. grew its stake in Occidental Petroleum by 696.7% in the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock worth $1,008,000 after purchasing an additional 20,985 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Occidental Petroleum by 7.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock valued at $4,443,000 after buying an additional 7,285 shares in the last quarter. Finally, AXA S.A. grew its position in shares of Occidental Petroleum by 24.3% in the 2nd quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock worth $5,740,000 after buying an additional 26,741 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 0.5%

Shares of OXY stock opened at $57.32 on Friday. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $54.81 and its 200 day moving average is $53.50. The stock has a market capitalization of $57.02 billion, a P/E ratio of 14.44 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. Research analysts expect that Occidental Petroleum Corporation will post 5.66 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio is 26.20%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OXY. BMO Capital Markets lifted their price objective on Occidental Petroleum from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Tuesday, April 7th. Truist Financial reduced their price objective on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Citigroup dropped their target price on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. UBS Group lowered their price objective on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Finally, Weiss Ratings downgraded Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.17.

Insider Activity

In other Occidental Petroleum news, CEO Richard A. Jackson purchased 4,770 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the purchase, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. The trade was a 1.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.