Hardin Capital Partners LLC Increases Stock Position in Occidental Petroleum Corporation $OXY

Hardin Capital Partners LLC increased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 7.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,137 shares of the oil and gas producer’s stock after buying an additional 1,472 shares during the period. Hardin Capital Partners LLC’s holdings in Occidental Petroleum were worth $949,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Occidental Petroleum during the first quarter worth about $1,274,000. Kestra Private Wealth Services LLC increased its holdings in Occidental Petroleum by 5.6% during the first quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock worth $843,000 after buying an additional 906 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Occidental Petroleum by 9.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock worth $78,813,000 after buying an additional 140,528 shares during the last quarter. swisspartners Advisors Ltd purchased a new stake in Occidental Petroleum during the first quarter worth about $6,006,000. Finally, Blackhawk Capital Partners LLC. purchased a new stake in Occidental Petroleum during the first quarter worth about $344,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. UBS Group increased 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 Monday. Piper Sandler increased their target price on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Wells Fargo & Company cut their target price on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 15th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $52.00 target price on shares of Occidental Petroleum in a research report on Monday, August 18th. Four investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $54.70.

Occidental Petroleum Stock Up 4.9%

Shares of NYSE OXY opened at $47.72 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $56.49. The firm’s fifty day moving average is $45.01 and its 200 day moving average is $43.79. The company has a market cap of $46.98 billion, a price-to-earnings ratio of 28.24 and a beta of 1.04.

Occidental Petroleum (NYSE:OXY) last issued 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 company 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 firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 earnings per share. On average, equities research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.0%. Occidental Petroleum’s payout ratio is 56.80%.

Occidental Petroleum Company 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.