Gifford Fong Associates Purchases 25,000 Shares of Occidental Petroleum Corporation $OXY

Gifford Fong Associates lifted its holdings in Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 25.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,429 shares of the oil and gas producer’s stock after acquiring an additional 25,000 shares during the period. Occidental Petroleum makes up approximately 1.2% of Gifford Fong Associates’ portfolio, making the stock its 25th biggest position. Gifford Fong Associates’ holdings in Occidental Petroleum were worth $5,101,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. acquired a new position in Occidental Petroleum in the second quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at $39,000. Hantz Financial Services Inc. lifted its position in shares of Occidental Petroleum by 1,193.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 788 shares during the period. MeadowBrook Investment Advisors LLC boosted its stake in 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 worth $42,000 after acquiring an additional 788 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in Occidental Petroleum in the first quarter worth $54,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 1.3%

OXY stock opened at $41.95 on Friday. The firm has a market capitalization of $41.33 billion, a PE ratio of 24.82 and a beta of 0.91. 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 Corporation has a twelve month low of $34.78 and a twelve month high of $53.20. The stock’s 50 day moving average is $42.81 and its 200-day moving average is $43.76.

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 analysts’ consensus estimates of $0.48 by $0.16. The business had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.66 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.Occidental Petroleum’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 EPS. Sell-side analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 annualized dividend and a yield of 2.3%. Occidental Petroleum’s payout ratio is 70.59%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OXY. Citigroup cut their price objective on shares of Occidental Petroleum from $49.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price target on shares of Occidental Petroleum in a research note on Tuesday. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Scotiabank boosted their price objective on Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Finally, Mizuho increased their target price on Occidental Petroleum from $60.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.52.

Get Our Latest Analysis on OXY

Occidental Petroleum Company Profile

(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.

Further Reading

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