Bank of Nova Scotia bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 86,662 shares of the oil and gas producer's stock, valued at approximately $4,209,000.
A number of other large investors have also recently modified their holdings of OXY. Axiom Investment Management LLC purchased a new position in shares of Occidental Petroleum during the first quarter valued at $25,000. Hara Capital LLC bought a new position in Occidental Petroleum during the 2nd quarter worth about $25,000. GKV Capital Management Co. Inc. purchased a new position in Occidental Petroleum during the 1st quarter valued at about $26,000. Portus Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at about $29,000. Finally, Caitlin John LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 88.70% of the company's stock.
Occidental Petroleum Price Performance
Shares of NYSE OXY opened at $58.44 on Wednesday. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The company has a market cap of $58.42 billion, a PE ratio of 9.05, a P/E/G ratio of 0.95 and a beta of 0.15. 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 business has a 50-day simple moving average of $54.77 and a two-hundred day simple moving average of $55.74.
Occidental Petroleum (NYSE:OXY - Get Free Report) last posted 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. The firm had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The company's revenue for the quarter was up 53.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share. As a group, equities analysts expect that Occidental Petroleum Corporation will post 6.09 EPS for the current fiscal year.
Occidental Petroleum Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be issued a $0.28 dividend. 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 1.9%. The ex-dividend date of this dividend is Thursday, September 10th. Occidental Petroleum's dividend payout ratio is 16.10%.
Analyst Ratings Changes
OXY has been the topic of several research reports. Morgan Stanley cut their price objective 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. The Goldman Sachs Group decreased their price target on shares of Occidental Petroleum from $64.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. Truist Financial raised their price target on shares of Occidental Petroleum from $57.00 to $63.00 and gave the company a "hold" rating in a report on Monday, August 10th. Wall Street Zen upgraded shares of Occidental Petroleum from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Citigroup decreased their target price on shares of Occidental Petroleum from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus price target of $64.83.
View Our Latest Stock Report on Occidental Petroleum
Insider Activity at Occidental Petroleum
In related news, CEO Richard A. Jackson acquired 4,770 shares of the company's stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, the chief executive officer directly owned 444,098 shares of the company's stock, valued at $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.
About Occidental Petroleum
(
Free Report)
Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.
Occidental's operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.
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