PFG Advisors Increases Stock Holdings in Occidental Petroleum Corporation $OXY

PFG Advisors raised its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 85.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,364 shares of the oil and gas producer’s stock after buying an additional 5,700 shares during the quarter. PFG Advisors’ holdings in Occidental Petroleum were worth $519,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Zions Bancorporation National Association UT raised its position in shares of Occidental Petroleum by 1,132.6% in the 2nd quarter. Zions Bancorporation National Association UT now owns 3,402 shares of the oil and gas producer’s stock valued at $143,000 after purchasing an additional 3,126 shares during the last quarter. Rathbones Group PLC raised its holdings in shares of Occidental Petroleum by 8.3% in the second quarter. Rathbones Group PLC now owns 19,475 shares of the oil and gas producer’s stock worth $818,000 after buying an additional 1,500 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Occidental Petroleum during the second quarter worth $327,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Occidental Petroleum by 11.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,333,957 shares of the oil and gas producer’s stock valued at $56,040,000 after buying an additional 139,765 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Occidental Petroleum by 9.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 5,797 shares of the oil and gas producer’s stock valued at $244,000 after acquiring an additional 508 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the topic of several research analyst reports. Susquehanna dropped their price target on Occidental Petroleum from $55.00 to $54.00 and set a “positive” rating on the stock in a research note on Monday, October 20th. JPMorgan Chase & Co. increased their price target on shares of Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Scotiabank raised their price target on shares of Occidental Petroleum from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $52.00 price objective on shares of Occidental Petroleum in a report on Monday, August 18th. Finally, Mizuho boosted their target price on shares of Occidental Petroleum from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $51.29.

Occidental Petroleum Stock Up 0.1%

OXY stock opened at $41.85 on Wednesday. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $53.20. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The firm’s fifty day moving average is $43.98 and its 200 day moving average is $43.70. The firm has a market cap of $41.19 billion, a PE ratio of 24.76 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same period in the prior year, the company posted $1.00 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, research analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current 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 $0.24 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. Occidental Petroleum’s payout ratio is 70.59%.

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.