111 Capital Buys New Stake in Occidental Petroleum Corporation $OXY

Key Points

• 111 Capital has acquired a new stake in Occidental Petroleum Corporation, purchasing 45,934 shares valued at approximately $1,930,000 during the second quarter.
• Occidental Petroleum reported an earnings per share of $0.39 for the last quarter, slightly surpassing analysts' expectations of $0.38, despite a 6.1% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.24 per share, which reflects a 2.1% yield based on its annualized dividend payout.

111 Capital bought a new stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 45,934 shares of the oil and gas producer's stock, valued at approximately $1,930,000.

Several other large investors have also recently bought and sold shares of the business. Northeast Financial Consultants Inc boosted its stake in Occidental Petroleum by 0.4% in the first quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer's stock valued at $2,890,000 after acquiring an additional 242 shares in the last quarter. S.A. Mason LLC boosted its stake in Occidental Petroleum by 5.9% in the second quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer's stock valued at $223,000 after acquiring an additional 295 shares in the last quarter. Moody National Bank Trust Division boosted its stake in Occidental Petroleum by 2.0% in the second quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer's stock valued at $644,000 after acquiring an additional 300 shares in the last quarter. Freestone Capital Holdings LLC boosted its stake in Occidental Petroleum by 4.2% in the first quarter. Freestone Capital Holdings LLC now owns 7,521 shares of the oil and gas producer's stock valued at $371,000 after acquiring an additional 304 shares in the last quarter. Finally, World Investment Advisors boosted its stake in Occidental Petroleum by 6.6% in the first quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer's stock valued at $242,000 after acquiring an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Trading Up 1.4%

NYSE OXY opened at $44.86 on Friday. The stock has a market capitalization of $44.16 billion, a P/E ratio of 26.54 and a beta of 0.95. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $56.49. The firm has a 50-day moving average price of $45.63 and a 200 day moving average price of $43.82. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to analysts' expectations of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. Equities research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is currently 56.80%.

Wall Street Analyst Weigh In

Several research firms have issued reports on OXY. Evercore ISI decreased their price objective on shares of Occidental Petroleum from $40.00 to $38.00 and set an "underperform" rating for the company in a research note on Friday. Wells Fargo & Company decreased their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Morgan Stanley reiterated an "equal weight" rating and set a $52.00 target price on shares of Occidental Petroleum in a research note on Monday, August 18th. UBS Group decreased their target price on shares of Occidental Petroleum from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Melius Research began coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a "hold" rating and a $64.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $52.87.

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.

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