Patriot Financial Group Insurance Agency LLC Increases Holdings in Occidental Petroleum Corporation $OXY

Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 3.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,984 shares of the oil and gas producer’s stock after acquiring an additional 461 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Occidental Petroleum were worth $545,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. PFG Investments LLC raised its position in shares of Occidental Petroleum by 3.1% during the 2nd quarter. PFG Investments LLC now owns 19,642 shares of the oil and gas producer’s stock valued at $825,000 after buying an additional 585 shares in the last quarter. GC Wealth Management RIA LLC purchased a new stake in Occidental Petroleum in the 2nd quarter worth about $211,000. V Square Quantitative Management LLC raised its position in Occidental Petroleum by 22.7% in the 2nd quarter. V Square Quantitative Management LLC now owns 5,648 shares of the oil and gas producer’s stock worth $237,000 after purchasing an additional 1,045 shares during the period. Signaturefd LLC raised its position in Occidental Petroleum by 173.2% in the 2nd quarter. Signaturefd LLC now owns 29,087 shares of the oil and gas producer’s stock worth $1,222,000 after purchasing an additional 18,441 shares during the period. Finally, Meridian Investment Counsel Inc. raised its position in Occidental Petroleum by 11.4% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 15,695 shares of the oil and gas producer’s stock worth $659,000 after purchasing an additional 1,600 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $44.86 on Friday. The firm has a market cap of $44.16 billion, a PE ratio of 26.54 and a beta of 0.95. The firm’s 50 day simple moving average is $45.63 and its 200-day simple moving average is $43.79. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $56.49. 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 issued its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS 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 business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same period last year, the company posted $1.03 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts predict 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 paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 56.80%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Mizuho raised shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $58.00 to $60.00 in a research report on Friday. Evercore ISI reduced their price objective on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a research report on Friday. Wells Fargo & Company reduced their price objective 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. Finally, UBS Group reduced their target price on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $52.87.

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.