Occidental Petroleum Corporation $OXY Shares Purchased by Chou Associates Management Inc.

Chou Associates Management Inc. raised its stake in Occidental Petroleum Corporation (NYSE:OXY) by 360.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 313,000 shares of the oil and gas producer’s stock after buying an additional 245,000 shares during the quarter. Occidental Petroleum comprises about 7.2% of Chou Associates Management Inc.’s portfolio, making the stock its 5th biggest holding. Chou Associates Management Inc.’s holdings in Occidental Petroleum were worth $13,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Occidental Petroleum in the 2nd quarter worth approximately $27,000. Hantz Financial Services Inc. raised its position in Occidental Petroleum by 1,193.9% in the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 788 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Occidental Petroleum during the first quarter worth $39,000. MeadowBrook Investment Advisors LLC boosted its position in shares of 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 worth $42,000 after buying an additional 788 shares during the period. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $51,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 0.8%

NYSE OXY opened at $41.98 on Wednesday. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20. The firm has a 50 day moving average of $42.65 and a two-hundred day moving average of $43.75. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $41.36 billion, a PE ratio of 24.84 and a beta of 0.39.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the business earned $1.00 EPS. As a group, research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 70.59%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OXY. JPMorgan Chase & Co. raised their target price on Occidental Petroleum from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Citigroup lowered their price objective on shares of Occidental Petroleum from $49.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Susquehanna raised their price target on shares of Occidental Petroleum from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, November 13th. Finally, Hsbc Global Res upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $50.52.

About Occidental Petroleum

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.