DAVENPORT & Co LLC Has $999,000 Holdings in Occidental Petroleum Corporation $OXY

DAVENPORT & Co LLC decreased its stake in Occidental Petroleum Corporation (NYSE:OXY) by 8.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 23,774 shares of the oil and gas producer’s stock after selling 2,215 shares during the quarter. DAVENPORT & Co LLC’s holdings in Occidental Petroleum were worth $999,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of OXY. Grove Bank & Trust raised its stake in Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 407 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Occidental Petroleum during the first quarter valued at about $39,000. Spectrum Wealth Counsel LLC grew its holdings 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 last quarter. Ransom Advisory Ltd acquired a new position in shares of Occidental Petroleum during the first quarter valued at about $54,000. Finally, Trifecta Capital Advisors LLC boosted its holdings in Occidental Petroleum by 4,393.9% during the first quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer’s stock worth $73,000 after purchasing an additional 1,450 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on OXY shares. Melius initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target on the stock. Bank of America upped their price objective on shares of Occidental Petroleum from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and increased their price target for the company from $48.00 to $55.00 in a research report on Friday, October 3rd. Wells Fargo & Company decreased their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 15th. Finally, Piper Sandler increased their price objective on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $52.52.

Occidental Petroleum Stock Down 5.2%

Shares of OXY opened at $42.22 on Friday. The firm has a market capitalization of $41.56 billion, a P/E ratio of 24.98 and a beta of 0.95. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $55.24. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The firm has a fifty day moving average price of $45.62 and a 200-day moving average price of $43.69.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $6.41 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. 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 disclosed 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 2.3%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 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.