Odyssean LLC Invests $682,000 in Occidental Petroleum Corporation $OXY

Odyssean LLC bought a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,036 shares of the oil and gas producer’s stock, valued at approximately $682,000.

Other hedge funds have also added to or reduced their stakes in the company. Axiom Investment Management LLC acquired a new position in Occidental Petroleum in the 1st quarter valued at $25,000. Hara Capital LLC acquired a new stake in shares of Occidental Petroleum during the second quarter worth $25,000. GKV Capital Management Co. Inc. bought a new stake in shares of Occidental Petroleum in the first quarter valued at about $26,000. Portus Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum in the first quarter valued at about $29,000. Finally, Caitlin John LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at about $29,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Raymond James Financial lifted their price objective on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Truist Financial increased their target price on shares of Occidental Petroleum from $57.00 to $63.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Wells Fargo & Company raised their target price on shares of Occidental Petroleum from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Susquehanna lifted their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. Finally, Mizuho boosted their price target on Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.83.

Occidental Petroleum Stock Up 0.5%

OXY stock opened at $58.69 on Thursday. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The business has a 50-day simple moving average of $54.88 and a 200 day simple moving average of $55.84. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The company has a market cap of $58.67 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.93 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.57. The firm had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. Sell-side analysts anticipate that Occidental Petroleum Corporation will post 6.09 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 10th. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s dividend payout ratio (DPR) is 16.10%.

Insider Transactions at Occidental Petroleum

In other news, CEO Richard A. Jackson acquired 4,770 shares of the stock in a transaction on Tuesday, June 23rd. The stock was acquired at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the transaction, the chief executive officer directly owned 444,098 shares in the company, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Occidental Petroleum Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.