26,084 Occidental Petroleum Corporation $OXY Shares Purchased by Krilogy Financial LLC

Key Points

• Krilogy Financial LLC increased its Occidental Petroleum stake by 164.2% in the third quarter, purchasing 26,084 shares and bringing its holdings to 41,969 shares valued at approximately $2.57 million.
• Institutional investors and hedge funds own 88.7% of Occidental Petroleum, with several firms also expanding their positions during the quarter.
• Occidental reported strong quarterly results, with EPS of $2.40 and revenue of $8.06 billion, while raising its quarterly dividend to $0.28 per share. Analysts maintain a consensus “Hold” rating with an average price target of $65.92.

Krilogy Financial LLC increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 164.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,969 shares of the oil and gas producer's stock after buying an additional 26,084 shares during the period. Krilogy Financial LLC's holdings in Occidental Petroleum were worth $2,566,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in OXY. Fluent Financial LLC purchased a new position in Occidental Petroleum in the third quarter valued at about $1,903,000. Fermata Advisors LLC acquired a new stake in Occidental Petroleum during the 3rd quarter valued at approximately $264,000. NorthCrest Asset Manangement LLC grew its stake in Occidental Petroleum by 100.5% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 34,504 shares of the oil and gas producer's stock valued at $2,080,000 after purchasing an additional 17,299 shares in the last quarter. Perpetual Ltd grew its stake in Occidental Petroleum by 114.0% during the 3rd quarter. Perpetual Ltd now owns 31,015 shares of the oil and gas producer's stock valued at $1,716,000 after purchasing an additional 16,523 shares in the last quarter. Finally, Woodstock Corp increased its holdings in Occidental Petroleum by 31.2% during the 3rd quarter. Woodstock Corp now owns 31,907 shares of the oil and gas producer's stock worth $1,765,000 after purchasing an additional 7,582 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Susquehanna upped their target price on Occidental Petroleum from $67.00 to $70.00 and gave the company a "positive" rating in a research report on Tuesday, August 11th. Stifel Nicolaus began coverage on Occidental Petroleum in a research note on Thursday, September 10th. They set a "hold" rating and a $68.00 target price for the company. Stephens decreased their price target on shares of Occidental Petroleum from $73.00 to $69.00 and set an "overweight" rating for the company in a research report on Tuesday, July 14th. UBS Group lifted their price target on shares of Occidental Petroleum from $67.00 to $73.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Morgan Stanley cut their price target on shares of Occidental Petroleum from $74.00 to $68.00 and set an "equal weight" rating on the stock in a report on Friday, June 26th. Twelve research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus target price of $65.92.

Occidental Petroleum Stock Down 0.4%

NYSE:OXY opened at $61.42 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The company has a market capitalization of $61.40 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 0.96 and a beta of 0.24. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The stock has a 50-day simple moving average of $59.18 and a 200 day simple moving average of $57.28.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (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 for the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Occidental Petroleum's revenue for the quarter was up 53.4% compared to the same quarter last year. Sell-side analysts predict that Occidental Petroleum Corporation will post 6.20 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be issued a $0.28 dividend. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.8%. Occidental Petroleum's dividend payout ratio (DPR) is presently 17.34%.

Occidental Petroleum Profile

Occidental Petroleum Corporation, commonly known as Oxy, is an energy company engaged in the exploration, development and production of oil and natural gas. Its upstream operations are concentrated in the United States, including the Permian and Denver-Julesburg basins, and in selected international regions such as the Middle East and North Africa.

The company also operates midstream and marketing businesses that support the gathering, processing, transportation and sale of oil, natural gas and natural gas liquids.

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