IFM Investors Pty Ltd Acquires 8,126 Shares of Occidental Petroleum Corporation $OXY

Key Points

• IFM Investors Pty Ltd raised its stake in Occidental Petroleum Corporation by 8.2% during the second quarter, owning 106,730 shares valued at approximately $4.48 million.
• The recent earnings report showed Occidental Petroleum had an EPS of $0.39, exceeding the expected $0.38, despite a 6.1% year-over-year revenue decline.
• Occidental Petroleum announced a quarterly dividend of $0.24, resulting in an annualized yield of 2.1% with a payout ratio of 56.80%.

IFM Investors Pty Ltd increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 8.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,730 shares of the oil and gas producer's stock after purchasing an additional 8,126 shares during the period. IFM Investors Pty Ltd's holdings in Occidental Petroleum were worth $4,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OXY. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Occidental Petroleum during the 1st quarter worth $1,274,000. Kestra Private Wealth Services LLC boosted its stake in Occidental Petroleum by 5.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer's stock worth $843,000 after buying an additional 906 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Occidental Petroleum by 9.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer's stock worth $78,813,000 after purchasing an additional 140,528 shares during the last quarter. swisspartners Advisors Ltd purchased a new position in Occidental Petroleum in the first quarter valued at approximately $6,006,000. Finally, Blackhawk Capital Partners LLC. purchased a new position in Occidental Petroleum in the first quarter valued at about $344,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Wall Street Analyst Weigh In

OXY has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. UBS Group upped their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a "neutral" rating in a research report on Monday, September 15th. Morgan Stanley reissued an "equal weight" rating and issued a $52.00 price target on shares of Occidental Petroleum in a research note on Monday, August 18th. Mizuho decreased their price target on shares of Occidental Petroleum from $65.00 to $58.00 and set a "neutral" rating for the company in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and a consensus target price of $54.70.

Occidental Petroleum Trading Down 0.6%

Shares of NYSE OXY traded down $0.28 during midday trading on Monday, reaching $45.82. The stock had a trading volume of 9,754,022 shares, compared to its average volume of 7,860,636. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $56.49. 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 firm has a market cap of $45.11 billion, a price-to-earnings ratio of 27.11 and a beta of 1.04. The company's 50 day moving average price is $45.07 and its 200 day moving average price is $43.79.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released 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. The business had revenue of $6.41 billion for the quarter, compared to analysts' expectations of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. As a group, sell-side analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.1%. Occidental Petroleum's dividend payout ratio is currently 56.80%.

Occidental Petroleum Company 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.