Cullen Investment Group LTD. Has $662,000 Stake in Occidental Petroleum Corporation $OXY

Cullen Investment Group LTD. boosted its stake in Occidental Petroleum Corporation (NYSE:OXY) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,748 shares of the oil and gas producer’s stock after purchasing an additional 515 shares during the period. Cullen Investment Group LTD.’s holdings in Occidental Petroleum were worth $662,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Occidental Petroleum by 17.8% during 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 acquiring an additional 12,107,285 shares during the last quarter. H&H International Investment LLC boosted its position in Occidental Petroleum by 1.8% during the first quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer’s stock valued at $682,456,000 after acquiring an additional 249,100 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Occidental Petroleum by 9.6% during the first 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. Northern Trust Corp boosted its position in Occidental Petroleum by 1.6% during the first quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer’s stock valued at $354,180,000 after acquiring an additional 110,378 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Occidental Petroleum by 4.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer’s stock valued at $218,799,000 after acquiring an additional 195,742 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

OXY stock opened at $45.69 on Friday. 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 1 year low of $34.78 and a 1 year high of $56.49. The stock has a market capitalization of $44.98 billion, a PE ratio of 27.04 and a beta of 1.04. The company’s 50-day moving average is $44.93 and its 200-day moving average is $43.85.

Occidental Petroleum (NYSE:OXY) last posted its earnings results 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. 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 analyst estimates of $6.29 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. Equities research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 56.80%.

Analyst Ratings Changes

A number of analysts have commented on OXY shares. Melius Research started coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 15th. UBS Group increased their price objective on shares of Occidental Petroleum from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Citigroup increased their price objective on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $54.65.

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.