North Capital Inc. Grows Stake in Occidental Petroleum Corporation $OXY

North Capital Inc. boosted its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 611.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,327 shares of the oil and gas producer’s stock after buying an additional 2,000 shares during the period. North Capital Inc.’s holdings in Occidental Petroleum were worth $98,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. World Investment Advisors lifted its holdings in Occidental Petroleum by 6.6% in the 1st quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer’s stock valued at $242,000 after purchasing an additional 306 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in Occidental Petroleum by 61.4% during the first quarter. Concurrent Investment Advisors LLC now owns 7,084 shares of the oil and gas producer’s stock worth $350,000 after acquiring an additional 2,696 shares during the last quarter. Brown Advisory Inc. grew its stake in Occidental Petroleum by 20.1% during the 1st quarter. Brown Advisory Inc. now owns 16,523 shares of the oil and gas producer’s stock valued at $816,000 after acquiring an additional 2,765 shares in the last quarter. Stratos Investment Management LLC purchased a new position in Occidental Petroleum in the 1st quarter worth approximately $214,000. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Occidental Petroleum by 0.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 114,844 shares of the oil and gas producer’s stock valued at $5,555,000 after purchasing an additional 716 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 1.4%

Occidental Petroleum stock opened at $40.29 on Friday. The company has a market capitalization of $39.66 billion, a PE ratio of 23.84 and a beta of 0.91. 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 Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. The firm has a 50 day moving average price of $44.35 and a 200 day moving average price of $43.61.

Occidental Petroleum (NYSE:OXY) last released its quarterly 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 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 analysts’ expectations of $6.29 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. Research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 56.80%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Scotiabank upped their target price on Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Wells Fargo & Company started coverage on shares of Occidental Petroleum in a research note on Friday, October 17th. They set an “underweight” rating and a $42.00 target price on the stock. Bank of America increased their price target on shares of Occidental Petroleum from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. upped their price objective on Occidental Petroleum from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $52.26.

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.