Pekin Hardy Strauss Inc. Has $1.45 Million Stake in Occidental Petroleum Corporation $OXY

Pekin Hardy Strauss Inc. raised its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 5.8% in the second quarter, HoldingsChannel.com reports. The firm owned 34,531 shares of the oil and gas producer’s stock after buying an additional 1,884 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Occidental Petroleum were worth $1,451,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. bought a new stake in Occidental Petroleum in the second quarter worth about $27,000. Hantz Financial Services Inc. increased its stake in shares of Occidental Petroleum by 1,193.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 788 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Occidental Petroleum in the first quarter valued at approximately $39,000. MeadowBrook Investment Advisors LLC grew its holdings in Occidental Petroleum by 371.7% during the second quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 788 shares during the period. Finally, Spectrum Wealth Counsel LLC increased its position in Occidental Petroleum by 5,000.0% in the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on OXY shares. Evercore ISI decreased their target price on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a research note on Friday, October 3rd. JPMorgan Chase & Co. lifted their target price on shares of Occidental Petroleum from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and boosted their price target for the stock from $48.00 to $55.00 in a research note on Friday, October 3rd. Wells Fargo & Company started coverage on shares of Occidental Petroleum in a research report on Friday, October 17th. They set an “underweight” rating and a $42.00 price objective on the stock. Finally, Susquehanna cut their target price on shares of Occidental Petroleum from $55.00 to $54.00 and set a “positive” rating for the company in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $52.26.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $41.26 on Friday. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The company has a market capitalization of $40.62 billion, a price-to-earnings ratio of 24.42 and a beta of 0.91. The company has a 50 day simple moving average of $44.22 and a two-hundred day simple moving average of $43.63.

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

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s payout ratio is 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.