34,700 Shares in Occidental Petroleum Corporation $OXY Purchased by Wittenberg Investment Management Inc.

Wittenberg Investment Management Inc. bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 2nd quarter, Holdings Channel reports. The firm bought 34,700 shares of the oil and gas producer’s stock, valued at approximately $1,458,000.

Other large investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Occidental Petroleum during the second quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Occidental Petroleum during the 1st quarter valued at $39,000. Hantz Financial Services Inc. boosted its stake in shares of Occidental Petroleum by 1,193.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 788 shares during the last quarter. MeadowBrook Investment Advisors LLC grew its holdings in shares of Occidental Petroleum by 371.7% in the second quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $42,000 after acquiring an additional 788 shares during the period. Finally, Spectrum Wealth Counsel LLC increased its position in Occidental Petroleum by 5,000.0% during the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 1,000 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Down 2.3%

Shares of NYSE OXY opened at $41.76 on Tuesday. The stock has a market capitalization of $41.14 billion, a P/E ratio of 24.71 and a beta of 0.91. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $53.20. The business’s 50 day moving average is $43.66 and its two-hundred day moving average is $43.75. 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 announced its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. The firm 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%.The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. As a group, research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

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

Analyst Ratings Changes

Several research analysts have issued reports on OXY shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Occidental Petroleum in a research report on Wednesday, October 8th. HSBC dropped their price objective on shares of Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Melius started coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price for the company. Hsbc Global Res upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Finally, Evercore ISI cut 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 report on Friday, October 3rd. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.24.

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.