CapWealth Advisors LLC Increases Stock Position in Occidental Petroleum Corporation $OXY

Key Points

• CapWealth Advisors LLC increased its holdings in Occidental Petroleum by 216.4% during Q2, acquiring an additional 9,750 shares, bringing their total to 14,255 shares worth $599,000.
• Analysts are bearish on Occidental Petroleum, with Wall Street Zen downgrading the stock from "hold" to "sell" and Evercore ISI lowering the price target from $40 to $38.
• Occidental has recently announced a quarterly dividend of $0.24 per share, resulting in an annual yield of 2.3% and a payout ratio of 56.8%.

CapWealth Advisors LLC lifted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 216.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,255 shares of the oil and gas producer's stock after acquiring an additional 9,750 shares during the period. CapWealth Advisors LLC's holdings in Occidental Petroleum were worth $599,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Northeast Financial Consultants Inc grew its position in shares of Occidental Petroleum by 0.4% during the first quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer's stock worth $2,890,000 after acquiring an additional 242 shares during the last quarter. Inspire Investing LLC grew its position in shares of Occidental Petroleum by 3.8% during the second quarter. Inspire Investing LLC now owns 6,720 shares of the oil and gas producer's stock worth $282,000 after acquiring an additional 247 shares during the last quarter. S.A. Mason LLC grew its position in shares of Occidental Petroleum by 5.9% during the second quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer's stock worth $223,000 after acquiring an additional 295 shares during the last quarter. Moody National Bank Trust Division grew its position in shares of Occidental Petroleum by 2.0% during the second quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer's stock worth $644,000 after acquiring an additional 300 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its position in shares of Occidental Petroleum by 3.7% during the second quarter. Verdence Capital Advisors LLC now owns 8,437 shares of the oil and gas producer's stock worth $354,000 after acquiring an additional 300 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OXY has been the subject of several recent research reports. Wall Street Zen downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Evercore ISI decreased their price target on Occidental Petroleum from $40.00 to $38.00 and set an "underperform" rating for the company in a report on Friday, October 3rd. Melius initiated coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a "hold" rating and a $64.00 price target for the company. Wells Fargo & Company initiated coverage on Occidental Petroleum in a report on Friday. They set an "underweight" rating and a $42.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on Occidental Petroleum from $49.00 to $50.00 and gave the stock a "neutral" rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and a consensus target price of $52.43.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $40.91 on Friday. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $53.20. 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 business has a fifty day moving average of $45.46 and a two-hundred day moving average of $43.43. The company has a market cap of $40.28 billion, a P/E ratio of 24.21 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results 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 company had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. During the same quarter last year, the company earned $1.03 earnings per share. Occidental Petroleum's quarterly revenue was down 6.1% compared to the same quarter last year. As a group, analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders 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 yield of 2.3%. Occidental Petroleum's dividend payout ratio (DPR) is 56.80%.

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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