CW Advisors LLC Invests $575,000 in Occidental Petroleum Corporation $OXY
CW Advisors LLC bought a new position in shares of Occidental Petroleum Corporation (NYSE:OXY — Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 11,758 shares of the oil and gas producer’s stock, valued at approximately $575,000.
A number of other hedge funds also recently made changes to their positions in the business. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Occidental Petroleum in the 1st quarter valued at about $1,274,000. Kestra Private Wealth Services LLC raised its stake in Occidental Petroleum by 5.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock valued at $843,000 after acquiring an additional 906 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Occidental Petroleum by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock valued at $78,813,000 after acquiring an additional 140,528 shares during the period. Northern Trust Corp raised its stake in Occidental Petroleum by 7.5% in the 4th quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer’s stock valued at $349,085,000 after acquiring an additional 491,797 shares during the period. Finally, swisspartners Advisors Ltd bought a new stake in Occidental Petroleum in the 1st quarter valued at about $6,006,000. 88.70% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on OXY. Scotiabank boosted their price objective on Occidental Petroleum from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Melius Research started coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective on the stock. Citigroup lifted their target price on Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, May 19th. Piper Sandler lifted their target price on Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Finally, Melius started coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price for the company. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $54.65.
Get Our Latest Research Report on OXY
Occidental Petroleum Stock Down 0.7%
Shares of NYSE OXY opened at $46.08 on Wednesday. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $57.57. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $45.36 billion, a price-to-earnings ratio of 27.27 and a beta of 0.91. The business has a 50-day moving average of $44.18 and a 200-day moving average of $44.05.
Occidental Petroleum (NYSE:OXY — Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Occidental Petroleum’s revenue was down 6.1% on a year-over-year basis. Sell-side analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.
Occidental Petroleum Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be given a $0.24 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Occidental Petroleum’s payout ratio is presently 56.80%.
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, 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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