PKO Investment Management Joint Stock Co Has $968,000 Position in Occidental Petroleum Corporation $OXY

PKO Investment Management Joint Stock Co lowered its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,050 shares of the oil and gas producer’s stock after selling 1,100 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Occidental Petroleum were worth $968,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. 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 position 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 valued at $50,000 after buying an additional 1,000 shares during the period. Ransom Advisory Ltd purchased a new stake in shares of Occidental Petroleum in the first quarter worth about $54,000. Mid American Wealth Advisory Group Inc. bought 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 purchasing an additional 688 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Susquehanna reduced their price target on shares of Occidental Petroleum from $55.00 to $54.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Evercore ISI dropped their price objective on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research note on Friday, October 3rd. Roth Capital increased their price objective on Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Wall Street Zen lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, UBS Group dropped their price objective on Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $52.26.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $42.60 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 current ratio of 1.05 and a quick ratio of 0.83. The business has a fifty day moving average price of $45.21 and a 200-day moving average price of $43.44. The company has a market capitalization of $41.94 billion, a PE ratio of 25.21 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data 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. 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 period last year, the company earned $1.03 EPS. Occidental Petroleum’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, equities analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 56.80%.

Occidental Petroleum Profile

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.