Baxter Bros Inc. Grows Position in Occidental Petroleum Corporation $OXY

Baxter Bros Inc. raised its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 10.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,455 shares of the oil and gas producer’s stock after buying an additional 500 shares during the quarter. Baxter Bros Inc.’s holdings in Occidental Petroleum were worth $229,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust boosted its holdings in shares of Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 407 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Occidental Petroleum in the 1st quarter worth approximately $39,000. Spectrum Wealth Counsel LLC boosted its holdings in shares of Occidental Petroleum by 5,000.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 1,000 shares during the period. Ransom Advisory Ltd purchased a new position in shares of Occidental Petroleum in the 1st quarter worth approximately $54,000. Finally, Trifecta Capital Advisors LLC boosted its holdings in shares of Occidental Petroleum by 4,393.9% in the 1st quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer’s stock worth $73,000 after purchasing an additional 1,450 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on OXY shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday. Roth Capital lifted their target price on Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. Scotiabank raised their price target 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. Hsbc Global Res raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $52.00 price target on shares of Occidental Petroleum in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $52.43.

Occidental Petroleum Trading Down 0.6%

Shares of NYSE OXY opened at $45.05 on Thursday. 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 business has a fifty day simple moving average of $45.63 and a two-hundred day simple moving average of $43.76. The firm has a market cap of $44.35 billion, a PE ratio of 26.66 and a beta of 0.95. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $55.24.

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

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be issued a $0.24 dividend. 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%.

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.