Alliancebernstein L.P. Grows Stock Holdings in Occidental Petroleum Corporation $OXY

Alliancebernstein L.P. grew its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 835,657 shares of the oil and gas producer's stock after purchasing an additional 40,310 shares during the quarter. Alliancebernstein L.P. owned about 0.08% of Occidental Petroleum worth $41,248,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $32,000. Grove Bank & Trust lifted its stake in Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after purchasing an additional 407 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of Occidental Petroleum during the 1st quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Occidental Petroleum during the 1st quarter valued at approximately $39,000. Finally, Spectrum Wealth Counsel LLC raised its position in shares of Occidental Petroleum by 5,000.0% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock valued at $50,000 after buying an additional 1,000 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OXY has been the topic of several analyst reports. Wells Fargo & Company reduced their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. Citigroup lifted their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Scotiabank lifted their price target on shares of Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Morgan Stanley reaffirmed an "equal weight" rating and set a $52.00 price target on shares of Occidental Petroleum in a research report on Monday, August 18th. Finally, UBS Group lifted their price target on shares of Occidental Petroleum from $42.00 to $45.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Four equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of "Hold" and an average price target of $54.65.

Occidental Petroleum Stock Down 1.2%

Occidental Petroleum stock opened at $45.38 on Tuesday. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $56.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The firm has a 50 day moving average price of $44.76 and a 200 day moving average price of $43.88. The company has a market capitalization of $44.67 billion, a PE ratio of 26.85 and a beta of 1.04.

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 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion during 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 company's quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

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

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.

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