Investors Asset Management of Georgia Inc. GA ADV Lowers Stock Holdings in Occidental Petroleum Corporation $OXY

Investors Asset Management of Georgia Inc. GA ADV lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 24.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 25,410 shares of the oil and gas producer’s stock after selling 8,270 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Occidental Petroleum were worth $1,067,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of 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 worth $3,960,202,000 after purchasing an additional 12,107,285 shares in the last quarter. Nuveen LLC purchased a new stake in Occidental Petroleum during the 1st quarter valued at approximately $99,853,000. Dimensional Fund Advisors LP grew its holdings in Occidental Petroleum by 9.6% during the 1st 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 buying an additional 710,220 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Occidental Petroleum by 926.9% during the first quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock valued at $38,381,000 after buying an additional 701,846 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Occidental Petroleum during the second quarter worth $28,584,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

NYSE OXY opened at $44.86 on Monday. The business’s 50 day moving average price is $45.63 and its 200-day moving average price is $43.76. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $56.49. The company has a market cap of $44.16 billion, a P/E ratio of 26.54 and a beta of 0.95. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 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 during the quarter, compared to analyst estimates of $6.29 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. Occidental Petroleum’s quarterly revenue was down 6.1% compared to the same quarter last year. Sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OXY shares. Piper Sandler lifted their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $52.00 target price on shares of Occidental Petroleum in a report on Monday, August 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Occidental Petroleum in a research note on Saturday, September 27th. Scotiabank lifted their price objective on Occidental Petroleum from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Finally, HSBC raised Occidental Petroleum from a “hold” rating to a “buy” rating and upped their price objective for the stock from $48.00 to $55.00 in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average price target of $52.87.

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.