Occidental Petroleum Corporation $OXY Shares Acquired by Harbour Investments Inc.

Harbour Investments Inc. grew its stake in Occidental Petroleum Corporation (NYSE:OXY) by 5.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,992 shares of the oil and gas producer’s stock after purchasing an additional 644 shares during the period. Harbour Investments Inc.’s holdings in Occidental Petroleum were worth $504,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in Occidental Petroleum during the 1st quarter worth $39,000. Spectrum Wealth Counsel LLC increased its stake in shares of Occidental Petroleum by 5,000.0% during 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 during the period. Ransom Advisory Ltd acquired a new stake in Occidental Petroleum in the first quarter valued at about $54,000. Quarry LP boosted its holdings in Occidental Petroleum by 69.7% in the 1st quarter. Quarry LP now owns 1,675 shares of the oil and gas producer’s stock valued at $83,000 after purchasing an additional 688 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Occidental Petroleum during the 1st quarter worth approximately $95,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Roth Capital upped their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Hsbc Global Res upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Occidental Petroleum in a research note on Wednesday, October 8th. Finally, Piper Sandler raised their price objective on Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average price target of $52.43.

Occidental Petroleum Trading Down 0.3%

Shares of Occidental Petroleum stock opened at $40.91 on Monday. 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 current ratio of 1.05 and a quick ratio of 0.83. The business has a 50 day moving average price of $45.46 and a 200 day moving average price of $43.39. The company has a market capitalization of $40.28 billion, a P/E ratio of 24.21 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share 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 the consensus estimate of $6.29 billion. During the same quarter last year, the business posted $1.03 earnings per share. Occidental Petroleum’s revenue was down 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.3%. Occidental Petroleum’s payout ratio is presently 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.