Hilltop National Bank Purchases New Shares in Occidental Petroleum Corporation $OXY

Key Points

• Hilltop National Bank has purchased 16,581 shares of Occidental Petroleum, valued at approximately $697,000, during the 2nd quarter.
• Occidental Petroleum's stock is currently rated "Hold" by most analysts, with an average price target of $53.95.
• The company has recently declared a quarterly dividend of $0.24, resulting in an annualized dividend yield of 2.2%.

Hilltop National Bank purchased a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,581 shares of the oil and gas producer's stock, valued at approximately $697,000.

Several other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Occidental Petroleum by 9.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,904 shares of the oil and gas producer's stock valued at $3,399,000 after purchasing an additional 6,985 shares in the last quarter. Syntax Research Inc. bought a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $840,000. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Occidental Petroleum by 3.7% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 12,984 shares of the oil and gas producer's stock valued at $545,000 after purchasing an additional 461 shares in the last quarter. PFG Investments LLC boosted its position in shares of Occidental Petroleum by 3.1% during the second quarter. PFG Investments LLC now owns 19,642 shares of the oil and gas producer's stock valued at $825,000 after purchasing an additional 585 shares in the last quarter. Finally, GC Wealth Management RIA LLC bought a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $211,000. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Roth Capital boosted their target price on Occidental Petroleum from $45.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday. Wall Street Zen downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Piper Sandler boosted their target price on Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Wells Fargo & Company dropped their target price on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Finally, Mizuho dropped their target price on Occidental Petroleum from $65.00 to $58.00 and set a "neutral" rating on the stock in a report on Monday, September 15th. Four equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $53.95.

Occidental Petroleum Stock Down 7.1%

OXY stock opened at $44.32 on Friday. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $56.49. The business has a fifty day moving average price of $45.62 and a 200-day moving average price of $43.84. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The stock has a market capitalization of $43.63 billion, a P/E ratio of 26.22 and a beta of 0.95.

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 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 firm had revenue of $6.41 billion during the quarter, compared to analysts' expectations of $6.29 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The company's revenue was down 6.1% on a year-over-year basis. Equities analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 2.2%. Occidental Petroleum's payout ratio is currently 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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