Occidental Petroleum Corporation $OXY Stock: Corecam Pte. Ltd. Trims Position

Corecam Pte. Ltd. cut its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 34.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,030 shares of the oil and gas producer’s stock after selling 37,050 shares during the period. Occidental Petroleum accounts for 1.6% of Corecam Pte. Ltd.’s holdings, making the stock its 21st biggest holding. Corecam Pte. Ltd.’s holdings in Occidental Petroleum were worth $3,819,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Citizens Financial Group Inc. RI lifted its stake in shares of Occidental Petroleum by 112.7% during the third quarter. Citizens Financial Group Inc. RI now owns 48,927 shares of the oil and gas producer’s stock worth $2,707,000 after buying an additional 25,920 shares during the period. Simplicity Wealth LLC lifted its holdings in Occidental Petroleum by 36.9% during the third quarter. Simplicity Wealth LLC now owns 8,606 shares of the oil and gas producer’s stock valued at $476,000 after purchasing an additional 2,319 shares in the last quarter. Evergreen Capital Management LLC raised its stake in Occidental Petroleum by 2.7% during the third quarter. Evergreen Capital Management LLC now owns 5,929 shares of the oil and gas producer’s stock worth $330,000 after purchasing an additional 155 shares during the period. Gibbs Wealth Management raised its position in Occidental Petroleum by 4.2% in the third quarter. Gibbs Wealth Management now owns 7,736 shares of the oil and gas producer’s stock valued at $428,000 after purchasing an additional 314 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of Occidental Petroleum by 8.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 10,073 shares of the oil and gas producer’s stock valued at $557,000 after acquiring an additional 758 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $64.18 on Friday. The stock has a market capitalization of $64.15 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.75 and a beta of 0.24. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-week high of $67.45. The stock’s 50-day moving average price is $59.86 and its 200 day moving average price is $57.25. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. The firm had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the business earned $0.39 EPS. The firm’s revenue was up 53.4% compared to the same quarter last year. As a group, equities research analysts forecast that Occidental Petroleum Corporation will post 6.84 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.7%. Occidental Petroleum’s dividend payout ratio is presently 17.34%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on OXY shares. Citigroup decreased their price target on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Morgan Stanley lifted their price objective on shares of Occidental Petroleum from $69.00 to $71.00 and gave the company an “equal weight” rating in a report on Thursday, October 15th. Seaport Research Partners began coverage on Occidental Petroleum in a research report on Thursday, September 3rd. They issued a “buy” rating and a $73.00 price target on the stock. Roth Capital raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Friday, October 16th. Finally, Evercore upgraded Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Wednesday, July 8th. Thirteen analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $67.46.

About Occidental Petroleum

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.