Gables Capital Management Inc. Raises Stock Position in Occidental Petroleum Corporation $OXY

Gables Capital Management Inc. raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 286.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,316 shares of the oil and gas producer’s stock after purchasing an additional 3,200 shares during the period. Gables Capital Management Inc.’s holdings in Occidental Petroleum were worth $181,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in OXY. Caitong International Asset Management Co. Ltd bought a new position in shares of Occidental Petroleum during the 1st quarter valued at about $39,000. Spectrum Wealth Counsel LLC boosted its holdings in shares of Occidental Petroleum by 5,000.0% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 1,000 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Occidental Petroleum during the 1st quarter valued at about $54,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Occidental Petroleum during the 2nd quarter valued at about $55,000. Finally, Quarry LP boosted its holdings in shares of Occidental Petroleum by 69.7% during the 1st quarter. Quarry LP now owns 1,675 shares of the oil and gas producer’s stock valued at $83,000 after purchasing an additional 688 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.2%

Shares of NYSE OXY opened at $40.93 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The company has a market cap of $40.29 billion, a P/E ratio of 24.22 and a beta of 0.95. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20. The firm has a 50-day simple moving average of $45.34 and a two-hundred day simple moving average of $43.37.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. Research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.3%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 56.80%.

Analysts Set New Price Targets

Several research firms have commented on OXY. Hsbc Global Res raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Scotiabank increased their price target on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Melius Research started coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. Finally, Wells Fargo & Company started coverage on shares of Occidental Petroleum in a report on Friday, October 17th. They issued an “underweight” rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.26.

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.