FORA Capital LLC Purchases Shares of 14,460 Occidental Petroleum Corporation $OXY

Key Points

• FORA Capital LLC purchased 14,460 shares of Occidental Petroleum Corporation for around $714,000, marking a new investment in the company during the first quarter.
• Analysts have set a consensus target price of $54.65 for Occidental Petroleum, with four rating it as a Buy and two as a Sell, indicating varying market sentiment.
• Occidental Petroleum recently declared a quarterly dividend of $0.24 per share, with an annualized yield of 2.0%, highlighting its commitment to returning value to shareholders.

FORA Capital LLC purchased a new position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,460 shares of the oil and gas producer's stock, valued at approximately $714,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Islay Capital Management LLC purchased a new stake in Occidental Petroleum during the 1st quarter valued at about $2,613,000. Synovus Financial Corp raised its position in Occidental Petroleum by 27.4% during the 1st quarter. Synovus Financial Corp now owns 17,691 shares of the oil and gas producer's stock worth $873,000 after buying an additional 3,804 shares during the last quarter. Quantitative Investment Management LLC purchased a new position in Occidental Petroleum during the 1st quarter worth approximately $2,141,000. Southeast Asset Advisors LLC raised its position in Occidental Petroleum by 522.8% during the 1st quarter. Southeast Asset Advisors LLC now owns 26,209 shares of the oil and gas producer's stock worth $1,294,000 after buying an additional 22,001 shares during the last quarter. Finally, Jump Financial LLC raised its position in Occidental Petroleum by 23.8% during the 1st quarter. Jump Financial LLC now owns 459,872 shares of the oil and gas producer's stock worth $22,699,000 after buying an additional 88,418 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Trading Up 0.3%

OXY traded up $0.14 on Monday, hitting $47.65. The company had a trading volume of 5,793,572 shares, compared to its average volume of 9,574,829. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The firm has a market cap of $46.91 billion, a P/E ratio of 28.19 and a beta of 1.04. The company's fifty day moving average price is $44.30 and its 200 day moving average price is $44.01. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $57.57.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued 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 business had revenue of $6.41 billion for 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 business's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. As a group, equities 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 Wednesday, October 15th. Investors of record on Wednesday, September 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is presently 56.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Mizuho cut their target price on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Barclays lifted their target price on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Wall Street Zen lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $52.00 price target on shares of Occidental Petroleum in a research note on Monday, August 18th. Four investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $54.65.

About Occidental Petroleum

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.