Choreo LLC Buys 15,536 Shares of Occidental Petroleum Corporation $OXY
Choreo LLC raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 35.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,969 shares of the oil and gas producer’s stock after buying an additional 15,536 shares during the quarter. Choreo LLC’s holdings in Occidental Petroleum were worth $2,533,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Occidental Petroleum in the 2nd quarter worth about $27,000. Hantz Financial Services Inc. raised its holdings in Occidental Petroleum by 1,193.9% in the second 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. Caitong International Asset Management Co. Ltd purchased a new position in Occidental Petroleum in the first quarter worth about $39,000. MeadowBrook Investment Advisors LLC grew its holdings in shares of Occidental Petroleum by 371.7% during the second quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after buying an additional 788 shares during the last quarter. Finally, Ransom Advisory Ltd bought a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $54,000. 88.70% of the stock is owned by hedge funds and other institutional investors.
Occidental Petroleum Trading Up 0.1%
Shares of NYSE:OXY opened at $41.46 on Friday. The stock’s 50-day simple moving average is $42.90 and its two-hundred day simple moving average is $43.78. The stock has a market capitalization of $40.84 billion, a price-to-earnings ratio of 24.53 and a beta of 0.91. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $53.20. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05.
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 EPS for the quarter, beating the consensus estimate of $0.48 by $0.16. The firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.66 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 EPS. Analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.
Occidental Petroleum Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be given a $0.24 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 annualized dividend and a yield of 2.3%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 70.59%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. UBS Group lowered their price objective on Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday, October 8th. Evercore ISI dropped their price objective on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a research report on Friday, October 3rd. Roth Capital lifted their price objective on Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. Finally, Wells Fargo & Company lowered their target price on shares of Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $50.52.
Get Our Latest Report on Occidental Petroleum
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.
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