Ieq Capital LLC Increases Stock Position in Occidental Petroleum Corporation $OXY

Key Points

• Ieq Capital LLC has increased its holdings in Occidental Petroleum by 116.0% during the first quarter, owning a total of 77,223 shares worth approximately $3.81 million.
• Occidental Petroleum is set to pay a quarterly dividend of $0.24 per share on October 15th, representing an annualized yield of 2.0%.
• Several research firms have set target prices for Occidental Petroleum, with the average target price being $54.65, while the stock has received mixed ratings of Buy, Hold, and Sell from analysts.

Ieq Capital LLC increased its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 116.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,223 shares of the oil and gas producer's stock after buying an additional 41,465 shares during the quarter. Ieq Capital LLC's holdings in Occidental Petroleum were worth $3,812,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB lifted its holdings in Occidental Petroleum by 20.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock valued at $81,000 after purchasing an additional 274 shares in the last quarter. Freestone Capital Holdings LLC raised its position in shares of Occidental Petroleum by 4.2% during the first quarter. Freestone Capital Holdings LLC now owns 7,521 shares of the oil and gas producer's stock valued at $371,000 after buying an additional 304 shares during the last quarter. World Investment Advisors raised its position in shares of Occidental Petroleum by 6.6% during the first quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer's stock valued at $242,000 after buying an additional 306 shares during the last quarter. Koshinski Asset Management Inc. raised its position in shares of Occidental Petroleum by 1.0% during the first quarter. Koshinski Asset Management Inc. now owns 32,736 shares of the oil and gas producer's stock valued at $1,616,000 after buying an additional 309 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its position in shares of Occidental Petroleum by 4.9% during the first quarter. Aaron Wealth Advisors LLC now owns 6,663 shares of the oil and gas producer's stock valued at $329,000 after buying an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Trading Up 0.3%

OXY stock opened at $47.65 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $57.57. The stock has a market capitalization of $46.91 billion, a price-to-earnings ratio of 28.19 and a beta of 0.91. The firm's fifty day simple moving average is $44.30 and its two-hundred day simple moving average is $44.06.

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

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. Occidental Petroleum's payout ratio is 56.80%.

Analysts Set New Price Targets

OXY has been the topic of several research reports. Melius Research initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price target on the stock. Piper Sandler boosted their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Scotiabank boosted their price target on shares of Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Melius initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price target on the stock. Finally, Wells Fargo & Company reduced their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. Four investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Occidental Petroleum presently has an average rating of "Hold" and an average target price of $54.65.

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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