Occidental Petroleum Corporation $OXY Shares Acquired by Shell Asset Management Co.

Shell Asset Management Co. grew its stake in Occidental Petroleum Corporation (NYSE:OXY) by 46.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,975 shares of the oil and gas producer’s stock after purchasing an additional 10,067 shares during the period. Shell Asset Management Co.’s holdings in Occidental Petroleum were worth $1,343,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Solitude Financial Services increased its holdings in shares of Occidental Petroleum by 52.1% in the second quarter. Solitude Financial Services now owns 13,353 shares of the oil and gas producer’s stock valued at $561,000 after purchasing an additional 4,574 shares during the period. Mraz Amerine & Associates Inc. increased its holdings in shares of Occidental Petroleum by 11.5% in the second quarter. Mraz Amerine & Associates Inc. now owns 125,774 shares of the oil and gas producer’s stock valued at $5,284,000 after purchasing an additional 12,973 shares during the period. Capital Advisors Inc. OK increased its holdings in shares of Occidental Petroleum by 153.9% in the second quarter. Capital Advisors Inc. OK now owns 15,925 shares of the oil and gas producer’s stock valued at $669,000 after purchasing an additional 9,652 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Occidental Petroleum by 10.7% in the second quarter. Valeo Financial Advisors LLC now owns 14,014 shares of the oil and gas producer’s stock valued at $589,000 after purchasing an additional 1,358 shares during the period. Finally, OLD National Bancorp IN increased its holdings in shares of Occidental Petroleum by 35.1% in the second quarter. OLD National Bancorp IN now owns 6,934 shares of the oil and gas producer’s stock valued at $291,000 after purchasing an additional 1,800 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. HSBC raised Occidental Petroleum from a “hold” rating to a “buy” rating and boosted their target price for the company from $48.00 to $55.00 in a report on Friday, October 3rd. Bank of America upped their price objective on Occidental Petroleum from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday. Hsbc Global Res raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday. Finally, Piper Sandler upped their price objective on Occidental Petroleum from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.52.

Occidental Petroleum Stock Down 1.2%

Occidental Petroleum stock opened at $44.50 on Friday. 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 has a market capitalization of $43.80 billion, a price-to-earnings ratio of 26.33 and a beta of 0.95. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $55.24. The stock’s fifty day moving average is $45.64 and its two-hundred day moving average is $43.74.

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

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio is 56.80%.

Occidental Petroleum 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.