Capital Advisors Inc. OK Grows Stock Position in Occidental Petroleum Corporation $OXY

Capital Advisors Inc. OK increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 153.9% in the 2nd quarter, Holdings Channel reports. The firm owned 15,925 shares of the oil and gas producer’s stock after purchasing an additional 9,652 shares during the period. Capital Advisors Inc. OK’s holdings in Occidental Petroleum were worth $669,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Occidental Petroleum by 17.8% in the first quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock valued at $3,960,202,000 after buying an additional 12,107,285 shares during the last quarter. Nuveen LLC purchased a new stake in Occidental Petroleum during the 1st quarter valued at about $99,853,000. Dimensional Fund Advisors LP raised its holdings in Occidental Petroleum by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock valued at $401,162,000 after acquiring an additional 710,220 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Occidental Petroleum by 926.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock worth $38,381,000 after purchasing an additional 701,846 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $28,584,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on OXY shares. UBS Group reduced their price objective on Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday. Wells Fargo & Company dropped their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. Mizuho raised shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $58.00 to $60.00 in a research note on Friday. Melius began coverage on Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective on the stock. Finally, Bank of America increased their price objective on Occidental Petroleum from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $52.43.

Occidental Petroleum Stock Up 1.2%

Occidental Petroleum stock opened at $45.39 on Tuesday. The company has a market capitalization of $44.68 billion, a PE ratio of 26.86 and a beta of 0.95. 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 Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $56.49. The firm has a 50 day moving average price of $45.62 and a 200 day moving average price of $43.74.

Occidental Petroleum (NYSE:OXY) last released its quarterly 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. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. During the same period last year, the business posted $1.03 earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum’s payout ratio is currently 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.