Occidental Petroleum Corporation $OXY Stock Holdings Increased by Ascent Group LLC

Ascent Group LLC boosted its position in Occidental Petroleum Corporation (NYSE:OXY) by 59.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 12,166 shares of the oil and gas producer’s stock after buying an additional 4,552 shares during the period. Ascent Group LLC’s holdings in Occidental Petroleum were worth $601,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new stake in Occidental Petroleum in the fourth quarter valued at about $32,000. Grove Bank & Trust increased its holdings in Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 407 shares during the last quarter. American National Bank & Trust bought a new stake in Occidental Petroleum in the first quarter valued at about $39,000. Caitong International Asset Management Co. Ltd bought a new stake in Occidental Petroleum in the first quarter valued at about $39,000. Finally, Spectrum Wealth Counsel LLC increased its holdings 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 valued at $50,000 after buying an additional 1,000 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $46.26 on Thursday. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The stock has a 50 day simple moving average of $44.85 and a 200-day simple moving average of $43.90. The company has a market cap of $45.54 billion, a PE ratio of 27.37 and a beta of 1.04. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $56.49.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 earnings per share. On average, equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Citigroup upped their target price on Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, May 19th. Melius began coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price for the company. Wells Fargo & Company lowered their target price on Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. upped their target price on Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $54.65.

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.