Citizens Financial Group Inc. RI Purchases 25,920 Shares of Occidental Petroleum Corporation $OXY

Key Points

• Citizens Financial Group increased its Occidental Petroleum stake by 112.7% in the third quarter, purchasing 25,920 additional shares and bringing its holdings to 48,927 shares valued at approximately $2.7 million.
• Institutional ownership of Occidental Petroleum stands at 88.7%, while analyst sentiment remains mixed: 13 analysts rate the stock a Buy and 14 rate it a Hold, producing a consensus Hold rating and an average price target of $67.46.
• Occidental reported quarterly earnings of $2.40 per share, beating estimates of $1.83, with revenue rising 53.4% year over year to $8.06 billion. The company also declared a quarterly dividend of $0.28 per share, equivalent to a 1.7% annualized yield.

Citizens Financial Group Inc. RI increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 112.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,927 shares of the oil and gas producer's stock after purchasing an additional 25,920 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Occidental Petroleum were worth $2,707,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Simplicity Wealth LLC grew its holdings in Occidental Petroleum by 36.9% during the third quarter. Simplicity Wealth LLC now owns 8,606 shares of the oil and gas producer's stock valued at $476,000 after purchasing an additional 2,319 shares during the period. Evergreen Capital Management LLC increased its stake in shares of Occidental Petroleum by 2.7% in the third quarter. Evergreen Capital Management LLC now owns 5,929 shares of the oil and gas producer's stock worth $330,000 after purchasing an additional 155 shares in the last quarter. Gibbs Wealth Management raised its position in shares of Occidental Petroleum by 4.2% in the third quarter. Gibbs Wealth Management now owns 7,736 shares of the oil and gas producer's stock valued at $428,000 after purchasing an additional 314 shares during the period. Fifth Third Wealth Advisors LLC lifted its stake in shares of Occidental Petroleum by 8.1% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 10,073 shares of the oil and gas producer's stock valued at $557,000 after buying an additional 758 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of Occidental Petroleum by 2.1% during the third quarter. Yousif Capital Management LLC now owns 79,797 shares of the oil and gas producer's stock worth $4,414,000 after acquiring an additional 1,673 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reiterated a "market perform" rating and set a $68.00 price target on shares of Occidental Petroleum in a research report on Wednesday, October 14th. Wall Street Zen raised Occidental Petroleum from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 10th. Roth Capital raised Occidental Petroleum from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a report on Friday, October 16th. Morgan Stanley upped their price objective on shares of Occidental Petroleum from $69.00 to $71.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 15th. Finally, Susquehanna boosted their price target on shares of Occidental Petroleum from $70.00 to $77.00 and gave the stock a "positive" rating in a research note on Tuesday, October 20th. Thirteen analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of "Hold" and an average price target of $67.46.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $64.07 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average of $59.83 and a 200 day moving average of $55.39. The firm has a market capitalization of $64.05 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 0.74 and a beta of 0.24. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.57. The firm had revenue of $8.06 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $0.39 EPS. As a group, research analysts expect that Occidental Petroleum Corporation will post 6.84 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 10th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.7%. Occidental Petroleum's dividend payout ratio (DPR) is currently 17.34%.

Occidental Petroleum Profile

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company's OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.

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