Baird Financial Group Inc. Boosts Stock Holdings in Occidental Petroleum Corporation $OXY

Key Points

• Baird Financial Group Inc. increased its holdings in Occidental Petroleum Corporation by 23.2% during the 1st quarter, owning a total of 309,575 shares valued at approximately $15.3 million.
• Occidental Petroleum declared a quarterly dividend of $0.24 per share, with a yield of 2.0%, scheduled to be paid on October 15th.
• The company's recent earnings release showed an EPS of $0.39, slightly above analysts' expectations, while its revenue decreased 6.1% year-over-year to $6.41 billion.

Baird Financial Group Inc. boosted its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 23.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 309,575 shares of the oil and gas producer's stock after buying an additional 58,247 shares during the period. Baird Financial Group Inc.'s holdings in Occidental Petroleum were worth $15,281,000 at the end of the most recent quarter.

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

Occidental Petroleum Trading Up 0.3%

OXY opened at $47.65 on Tuesday. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $57.57. The stock has a market capitalization of $46.91 billion, a PE ratio of 28.19 and a beta of 1.04. The business's 50 day moving average price is $44.37 and its 200 day moving average price is $44.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The firm had revenue of $6.41 billion for the quarter, compared to analysts' expectations of $6.29 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The firm's quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is 56.80%.

Analyst Ratings Changes

OXY has been the subject of a number of analyst reports. Wall Street Zen lowered Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Morgan Stanley restated an "equal weight" rating and issued a $52.00 price target on shares of Occidental Petroleum in a research report on Monday, August 18th. Melius initiated coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price target for the company. Mizuho dropped their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Melius Research initiated coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $54.65.

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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