Harvest Portfolios Group Inc. Buys Shares of 36,462 Occidental Petroleum Corporation $OXY

Harvest Portfolios Group Inc. purchased a new position in shares of Occidental Petroleum Corporation (NYSE:OXY — Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,462 shares of the oil and gas producer’s stock, valued at approximately $1,532,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. World Investment Advisors grew its stake in Occidental Petroleum by 6.6% during the 1st quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer’s stock worth $242,000 after buying an additional 306 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of Occidental Petroleum by 61.4% during the first quarter. Concurrent Investment Advisors LLC now owns 7,084 shares of the oil and gas producer’s stock valued at $350,000 after acquiring an additional 2,696 shares during the period. Brown Advisory Inc. grew its position in shares of Occidental Petroleum by 20.1% during the first quarter. Brown Advisory Inc. now owns 16,523 shares of the oil and gas producer’s stock worth $816,000 after acquiring an additional 2,765 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Occidental Petroleum by 0.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 114,844 shares of the oil and gas producer’s stock worth $5,555,000 after acquiring an additional 716 shares during the period. Finally, Greenleaf Trust lifted its position in Occidental Petroleum by 5.6% in the 1st quarter. Greenleaf Trust now owns 11,604 shares of the oil and gas producer’s stock valued at $573,000 after purchasing an additional 617 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of several recent analyst reports. Piper Sandler decreased their target price on shares of Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, October 21st. Mizuho raised Occidental Petroleum from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $58.00 to $60.00 in a report on Friday, October 3rd. Melius Research assumed coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $52.00 price target on shares of Occidental Petroleum in a research note on Monday, August 18th. Finally, HSBC raised Occidental Petroleum from a “hold” rating to a “buy” rating and raised their price target for the company from $48.00 to $55.00 in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $52.26.

Check Out Our Latest Stock Analysis on OXY

Occidental Petroleum Stock Up 2.4%

Shares of OXY stock opened at $41.26 on Friday. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year 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. The business’s fifty day moving average is $44.22 and its 200-day moving average is $43.63. The stock has a market cap of $40.62 billion, a PE ratio of 24.42 and a beta of 0.91.

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

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. Occidental Petroleum’s dividend payout ratio (DPR) is 56.80%.

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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