Carrera Capital Advisors Invests $2.09 Million in Occidental Petroleum Corporation $OXY
Carrera Capital Advisors acquired a new stake in Occidental Petroleum Corporation (NYSE:OXY — Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 44,052 shares of the oil and gas producer’s stock, valued at approximately $2,091,000.
Several other large investors have also recently added to or reduced their stakes in OXY. Woodline Partners LP boosted its stake in shares of Occidental Petroleum by 40.7% in 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 during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Occidental Petroleum by 3.7% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 12,984 shares of the oil and gas producer’s stock valued at $545,000 after acquiring an additional 461 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Occidental Petroleum by 9.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,904 shares of the oil and gas producer’s stock valued at $3,399,000 after purchasing an additional 6,985 shares in the last quarter. Intrinsic Value Partners LLC lifted its holdings in shares of Occidental Petroleum by 12.7% in the second quarter. Intrinsic Value Partners LLC now owns 63,467 shares of the oil and gas producer’s stock worth $2,666,000 after acquiring an additional 7,142 shares during the last quarter. Finally, 111 Capital bought a new position in Occidental Petroleum in the second quarter valued at about $1,930,000. Institutional investors and hedge funds own 88.70% of the company’s stock.
Occidental Petroleum Stock Performance
NYSE:OXY opened at $45.38 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.71. The firm has a market capitalization of $44.71 billion, a price-to-earnings ratio of 33.37 and a beta of 0.38. The company’s 50-day moving average is $41.98 and its two-hundred day moving average is $43.34. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $52.58.
Occidental Petroleum (NYSE:OXY — Get Free Report) last released its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The firm had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same quarter last year, the company posted $1.00 earnings per share. The business’s revenue was down 6.1% on a year-over-year basis. Analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.
Occidental Petroleum Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 10th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 70.59%.
Insider Activity at Occidental Petroleum
In other Occidental Petroleum news, Director William R. Klesse bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was acquired at an average cost of $38.98 per share, with a total value of $194,900.00. Following the completion of the purchase, the director directly owned 218,913 shares in the company, valued at approximately $8,533,228.74. This trade represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on OXY. Barclays began coverage on Occidental Petroleum in a report on Wednesday, January 21st. They issued an “equal weight” rating on the stock. Susquehanna cut their price objective on Occidental Petroleum from $55.00 to $51.00 and set a “positive” rating for the company in a report on Monday, January 26th. UBS Group lowered their target price on Occidental Petroleum from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, December 12th. Wells Fargo & Company decreased their target price on Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating for the company in a research report on Wednesday, November 12th. Finally, BMO Capital Markets reduced their price target on shares of Occidental Petroleum from $50.00 to $48.00 and set a “market perform” rating for the company in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $47.48.
Check Out Our Latest Report on Occidental Petroleum
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.
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