Commerce Bank Acquires Shares of 18,793 Occidental Petroleum Corporation $OXY

Commerce Bank acquired a new position in Occidental Petroleum Corporation (NYSE:OXY) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,793 shares of the oil and gas producer’s stock, valued at approximately $913,000.

Other institutional investors have also recently modified their holdings of the company. Axiom Investment Management LLC purchased a new position in shares of Occidental Petroleum in the 1st quarter valued at about $25,000. Hara Capital LLC acquired a new stake in Occidental Petroleum in the second quarter valued at approximately $25,000. GKV Capital Management Co. Inc. acquired a new stake in Occidental Petroleum in the first quarter valued at approximately $26,000. Portus Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $29,000. Finally, Caitlin John LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $29,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Occidental Petroleum news, CEO Richard A. Jackson bought 4,770 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, with a total value of $249,852.60. Following the purchase, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Capital One Financial increased their target price on Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Occidental Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. UBS Group dropped their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Finally, Morgan Stanley reduced their price target on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 26th. Ten research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.83.

Occidental Petroleum Stock Up 0.5%

NYSE OXY opened at $58.69 on Thursday. The business has a fifty day moving average price of $54.88 and a 200 day moving average price of $55.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The company has a market cap of $58.67 billion, a P/E ratio of 9.09, a P/E/G ratio of 0.93 and a beta of 0.15. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.57. The business had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The company’s revenue for the quarter was up 53.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Research analysts anticipate that Occidental Petroleum Corporation will post 6.09 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.12 annualized dividend and a yield of 1.9%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s dividend payout ratio is currently 16.10%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.