Occidental Petroleum Corporation $OXY Shares Purchased by Ethic Inc.
Ethic Inc. raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 49.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,380 shares of the oil and gas producer’s stock after buying an additional 6,078 shares during the period. Ethic Inc.’s holdings in Occidental Petroleum were worth $783,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Occidental Petroleum in the 1st quarter worth approximately $39,000. Spectrum Wealth Counsel LLC increased its position in shares of Occidental Petroleum by 5,000.0% in the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 1,000 shares in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Occidental Petroleum in the first quarter worth approximately $54,000. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Occidental Petroleum in the second quarter worth approximately $55,000. Finally, Quarry LP increased its position in shares of Occidental Petroleum by 69.7% in the first quarter. Quarry LP now owns 1,675 shares of the oil and gas producer’s stock worth $83,000 after acquiring an additional 688 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.
Occidental Petroleum Price Performance
NYSE OXY opened at $42.31 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $41.65 billion, a PE ratio of 25.03 and a beta of 0.95. The company has a 50 day moving average price of $45.17 and a two-hundred day moving average price of $43.52. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $53.20.
Occidental Petroleum (NYSE:OXY — Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. As a group, equities analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.
Occidental Petroleum Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th were paid a $0.24 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Occidental Petroleum’s payout ratio is 56.80%.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Occidental Petroleum in a research report on Wednesday, October 8th. Piper Sandler dropped their target price on shares of Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 21st. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Melius initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price objective on the stock. Finally, Hsbc Global Res raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $52.26.
Read Our Latest Stock Report on Occidental Petroleum
About Occidental Petroleum
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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