Occidental Petroleum Corporation $OXY Position Increased by OLD National Bancorp IN

OLD National Bancorp IN raised its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 35.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,934 shares of the oil and gas producer’s stock after buying an additional 1,800 shares during the period. OLD National Bancorp IN’s holdings in Occidental Petroleum were worth $291,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in OXY. Merit Financial Group LLC boosted its holdings in Occidental Petroleum by 53.5% during the first quarter. Merit Financial Group LLC now owns 12,254 shares of the oil and gas producer’s stock worth $605,000 after buying an additional 4,270 shares in the last quarter. Wedmont Private Capital boosted its holdings in Occidental Petroleum by 18.8% during the first quarter. Wedmont Private Capital now owns 15,022 shares of the oil and gas producer’s stock worth $741,000 after buying an additional 2,377 shares in the last quarter. Capital Investment Advisors LLC boosted its holdings in Occidental Petroleum by 48.7% during the first quarter. Capital Investment Advisors LLC now owns 7,305 shares of the oil and gas producer’s stock worth $361,000 after buying an additional 2,391 shares in the last quarter. Courier Capital LLC bought a new stake in Occidental Petroleum during the first quarter worth approximately $217,000. Finally, Portside Wealth Group LLC boosted its stake in Occidental Petroleum by 25.1% in the 1st quarter. Portside Wealth Group LLC now owns 20,372 shares of the oil and gas producer’s stock worth $1,006,000 after purchasing an additional 4,088 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OXY shares. Mizuho raised shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $58.00 to $60.00 in a research note on Friday, October 3rd. UBS Group decreased their price objective on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. Hsbc Global Res raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and raised their price objective for the stock from $48.00 to $55.00 in a research note on Friday, October 3rd. Finally, Scotiabank raised their price objective on shares of Occidental Petroleum from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $52.43.

Occidental Petroleum Stock Down 0.2%

Occidental Petroleum stock opened at $45.30 on Wednesday. The company has a market capitalization of $44.60 billion, a P/E ratio of 26.81 and a beta of 0.95. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $55.24. 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’s fifty day simple moving average is $45.62 and its 200-day simple moving average is $43.76.

Occidental Petroleum (NYSE:OXY) last announced its earnings results 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. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. Sell-side analysts forecast 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 issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 56.80%.

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.