Insight Advisors LLC PA Sells 262 Shares of Occidental Petroleum Corporation $OXY

Insight Advisors LLC PA lowered its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,133 shares of the oil and gas producer’s stock after selling 262 shares during the quarter. Insight Advisors LLC PA’s holdings in Occidental Petroleum were worth $216,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Farley Capital L.P. boosted its position in shares of Occidental Petroleum by 17.3% during the 2nd quarter. Farley Capital L.P. now owns 14,804 shares of the oil and gas producer’s stock valued at $622,000 after purchasing an additional 2,188 shares in the last quarter. Ethic Inc. lifted its stake in Occidental Petroleum by 49.4% in the second quarter. Ethic Inc. now owns 18,380 shares of the oil and gas producer’s stock valued at $783,000 after buying an additional 6,078 shares during the period. Adams Natural Resources Fund Inc. boosted its holdings in shares of Occidental Petroleum by 1,642.6% during the 2nd quarter. Adams Natural Resources Fund Inc. now owns 128,951 shares of the oil and gas producer’s stock worth $5,417,000 after buying an additional 121,551 shares in the last quarter. Brookstone Capital Management grew its position in shares of Occidental Petroleum by 34.0% during the 2nd quarter. Brookstone Capital Management now owns 16,968 shares of the oil and gas producer’s stock worth $713,000 after buying an additional 4,301 shares during the period. Finally, Gables Capital Management Inc. increased its stake in shares of Occidental Petroleum by 286.7% in the 2nd quarter. Gables Capital Management Inc. now owns 4,316 shares of the oil and gas producer’s stock valued at $181,000 after acquiring an additional 3,200 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of OXY opened at $42.91 on Friday. The firm has a market capitalization of $42.25 billion, a P/E ratio of 25.39 and a beta of 0.95. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20. The stock has a 50 day moving average price of $45.25 and a two-hundred day moving average price of $43.39. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Occidental Petroleum’s quarterly revenue was down 6.1% on a year-over-year basis. Equities 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 was paid on Wednesday, October 15th. Stockholders 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 annualized dividend and a dividend yield of 2.2%. Occidental Petroleum’s dividend payout ratio is presently 56.80%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on OXY shares. 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. Roth Capital increased their price objective 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Occidental Petroleum in a research note on Wednesday, October 8th. HSBC raised Occidental Petroleum from a “hold” rating to a “buy” rating and raised their price objective for the company from $48.00 to $55.00 in a research note on Friday, October 3rd. Finally, Evercore ISI lowered their target price on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a research report on Friday, October 3rd. One equities 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 issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.26.

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.