Occidental Petroleum Corporation $OXY Shares Bought by Brookstone Capital Management

Brookstone Capital Management boosted its position in Occidental Petroleum Corporation (NYSE:OXY) by 34.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,968 shares of the oil and gas producer’s stock after purchasing an additional 4,301 shares during the quarter. Brookstone Capital Management’s holdings in Occidental Petroleum were worth $713,000 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 bought a new stake in Occidental Petroleum in the 1st quarter valued at about $39,000. Spectrum Wealth Counsel LLC lifted its position in Occidental Petroleum by 5,000.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 1,000 shares during the last quarter. Ransom Advisory Ltd bought a new stake in Occidental Petroleum in the 1st quarter valued at about $54,000. Mid American Wealth Advisory Group Inc. bought a new stake in Occidental Petroleum in the 2nd quarter valued at about $55,000. Finally, Quarry LP lifted its position in Occidental Petroleum by 69.7% in the 1st quarter. Quarry LP now owns 1,675 shares of the oil and gas producer’s stock valued at $83,000 after purchasing an additional 688 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on OXY shares. Roth Capital raised their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Occidental Petroleum in a research note on Saturday. Melius Research started coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price on the stock. HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and raised their target price for the company from $48.00 to $55.00 in a research note on Friday, October 3rd. Finally, Wells Fargo & Company initiated coverage on shares of Occidental Petroleum in a research note on Friday, October 17th. They set an “underweight” rating and a $42.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $52.26.

Occidental Petroleum Stock Performance

Shares of OXY opened at $42.60 on Monday. The firm’s 50 day moving average is $45.21 and its 200-day moving average is $43.51. The stock has a market capitalization of $41.94 billion, a P/E ratio of 25.21 and a beta of 0.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $53.20.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The business’s revenue was down 6.1% compared to the same quarter last year. Equities research analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend 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.