Aberdeen Group plc Grows Stock Holdings in Occidental Petroleum Corporation (NYSE:OXY)

Aberdeen Group plc grew its holdings in Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 134.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 700,412 shares of the oil and gas producer’s stock after acquiring an additional 401,918 shares during the period. Aberdeen Group plc owned about 0.07% of Occidental Petroleum worth $34,646,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OXY. Bernard Wealth Management Corp. acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $32,000. Grove Bank & Trust grew its stake in shares of Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 407 shares during the period. American National Bank & Trust acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth approximately $39,000. Finally, Quarry LP grew its stake in shares of Occidental Petroleum by 615.2% during the 4th quarter. Quarry LP now owns 987 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 849 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Down 0.4%

Shares of OXY opened at $44.61 on Friday. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $58.47. The company has a market capitalization of $43.92 billion, a PE ratio of 26.40 and a beta of 0.91. The stock has a fifty day simple moving average of $44.17 and a two-hundred day simple moving average of $44.16. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY — Get Free Report) last issued its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. During the same period last year, the company earned $1.03 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, equities analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 56.80%.

Analyst Ratings Changes

A number of brokerages have recently commented on OXY. JPMorgan Chase & Co. raised their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Scotiabank increased their target price on Occidental Petroleum from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Piper Sandler increased their target price on Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Wells Fargo & Company decreased their target price on Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 15th. Finally, Citigroup increased their target price on Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, May 19th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $53.71.

Read Our Latest Research Report on OXY

About Occidental Petroleum

(Free Report)

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.

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