8,432 Shares in Occidental Petroleum Corporation $OXY Purchased by Tevis Investment Management

Key Points

• Tevis Investment Management has acquired 8,432 shares of Occidental Petroleum Corporation (NYSE: OXY), valued at approximately $356,000, highlighting increased institutional interest in the company.
• Occidental Petroleum reported earnings per share of $0.39 for the last quarter, surpassing analysts' estimates and generating a revenue of $6.41 billion, although its quarterly revenue is down 6.1% year-over-year.
• The company declared a quarterly dividend of $0.24 per share, resulting in an annualized dividend yield of 2.3% and a payout ratio of 56.80%.

Tevis Investment Management purchased a new position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,432 shares of the oil and gas producer's stock, valued at approximately $356,000.

Other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Occidental Petroleum in the 2nd quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Occidental Petroleum in the 1st quarter worth about $39,000. Spectrum Wealth Counsel LLC increased its stake in shares of Occidental Petroleum by 5,000.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock worth $50,000 after acquiring an additional 1,000 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Occidental Petroleum during the 1st quarter valued at about $54,000. Finally, Mid American Wealth Advisory Group Inc. bought a new stake in Occidental Petroleum during the 2nd quarter valued at about $55,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $42.31 on Tuesday. The firm's 50-day moving average price is $45.17 and its 200-day moving average price is $43.52. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The company has a market cap of $41.65 billion, a PE ratio of 25.03 and a beta of 0.95. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $53.20.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 EPS. As a group, analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. Occidental Petroleum's dividend payout ratio (DPR) is presently 56.80%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wall Street Zen lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. UBS Group lowered their price objective on Occidental Petroleum from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Friday, October 3rd. Melius assumed coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price objective on the stock. Scotiabank upped their price objective on Occidental Petroleum from $45.00 to $47.00 and gave the company a "sector perform" rating in a research report on Thursday, October 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 research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $52.26.

Occidental Petroleum Company 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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