Capital Advisors Inc. OK Grows Position in Occidental Petroleum Corporation $OXY

Key Points

• Capital Advisors Inc. OK increased its stake in Occidental Petroleum Corporation by 153.9% during the second quarter, now holding 15,925 shares worth $669,000.
• Occidental Petroleum announced a quarterly dividend of $0.24 per share, with a dividend yield of 2.1% and payout ratio of 56.80%.
• The company's recent earnings report revealed $0.39 earnings per share, surpassing the consensus estimate, while revenues fell 6.1% year-over-year to $6.41 billion.

Capital Advisors Inc. OK grew its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 153.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,925 shares of the oil and gas producer's stock after buying an additional 9,652 shares during the period. Capital Advisors Inc. OK's holdings in Occidental Petroleum were worth $669,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Occidental Petroleum by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer's stock worth $3,960,202,000 after acquiring an additional 12,107,285 shares during the last quarter. H&H International Investment LLC increased its holdings in shares of Occidental Petroleum by 1.8% in the first quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer's stock valued at $682,456,000 after purchasing an additional 249,100 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Occidental Petroleum by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer's stock worth $401,162,000 after purchasing an additional 710,220 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Occidental Petroleum by 1.6% during the first quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer's stock worth $354,180,000 after purchasing an additional 110,378 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Occidental Petroleum by 4.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer's stock valued at $218,799,000 after buying an additional 195,742 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $45.39 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $56.49. The business's 50 day moving average is $45.62 and its two-hundred day moving average is $43.74. The company has a market capitalization of $44.68 billion, a P/E ratio of 26.86 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. During the same period in the prior year, the company posted $1.03 EPS. The business's quarterly revenue was down 6.1% on a year-over-year basis. Analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be given 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 dividend payout ratio (DPR) is 56.80%.

Analyst Ratings Changes

OXY has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Mizuho raised shares of Occidental Petroleum from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $58.00 to $60.00 in a report on Friday. Melius started coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a "hold" rating and a $64.00 target price for the company. Piper Sandler increased their price target on Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Scotiabank boosted their price objective on Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $52.43.

Occidental Petroleum 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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