Independent Advisor Alliance acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,053 shares of the oil and gas producer’s stock, valued at approximately $253,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Community Bank & Trust Waco Texas increased its holdings in Occidental Petroleum by 41.2% in the second quarter. Community Bank & Trust Waco Texas now owns 5,130 shares of the oil and gas producer’s stock valued at $429,000 after purchasing an additional 1,497 shares during the period. PNC Financial Services Group Inc. increased its holdings in Occidental Petroleum by 172.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,722,476 shares of the oil and gas producer’s stock valued at $111,893,000 after purchasing an additional 1,089,145 shares during the period. Paulson Wealth Management Inc. acquired a new stake in Occidental Petroleum in the second quarter valued at $225,000. Strategic Advisors LLC acquired a new stake in Occidental Petroleum in the second quarter valued at $314,000. Finally, First Foundation Advisors increased its holdings in Occidental Petroleum by 5.8% in the first quarter. First Foundation Advisors now owns 202,929 shares of the oil and gas producer’s stock valued at $13,182,000 after purchasing an additional 11,058 shares during the period. Institutional investors and hedge funds own 82.37% of the company’s stock.
OXY has been the subject of a number of recent analyst reports. Bank of America increased their price target on Occidental Petroleum from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, August 17th. National Alliance Securities upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Monday, August 13th. JPMorgan Chase & Co. decreased their price target on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, August 10th. ValuEngine downgraded Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, Mizuho reiterated a “buy” rating on shares of Occidental Petroleum in a report on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $83.60.
OXY stock opened at $78.89 on Wednesday. The stock has a market cap of $60.07 billion, a PE ratio of 88.64, a P/E/G ratio of 2.71 and a beta of 0.63. The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. Occidental Petroleum Co. has a 1 year low of $58.69 and a 1 year high of $87.67.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.11). The company had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.13 billion. Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. Occidental Petroleum’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. sell-side analysts expect that Occidental Petroleum Co. will post 4.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 10th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Friday, September 7th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.77. Occidental Petroleum’s dividend payout ratio is 346.07%.
In related news, Director William R. Klesse acquired 5,000 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were bought at an average price of $78.55 per share, with a total value of $392,750.00. Following the transaction, the director now directly owns 77,963 shares of the company’s stock, valued at $6,123,993.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.
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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
Further Reading: How Do I Invest in Dividend Stocks
Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Co. (NYSE:OXY).
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.