Integrity Alliance LLC. Buys Shares of 8,287 Occidental Petroleum Corporation $OXY

Key Points

• Integrity Alliance LLC acquired 8,287 shares of Occidental Petroleum, valued at approximately $409,000, during the first quarter.
• Vanguard Group significantly increased its stake in Occidental Petroleum by 17.8%, now owning over 80 million shares worth nearly $4 billion.
• The company declared a quarterly dividend of $0.24 per share, with the ex-dividend date set for September 10th.

Integrity Alliance LLC. bought a new stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,287 shares of the oil and gas producer's stock, valued at approximately $409,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OXY. Vanguard Group Inc. grew its stake in Occidental Petroleum by 17.8% in the first quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer's stock valued at $3,960,202,000 after purchasing an additional 12,107,285 shares in the last quarter. Nuveen LLC bought a new stake in shares of Occidental Petroleum during the 1st quarter worth about $99,853,000. Worldquant Millennium Advisors LLC boosted its stake in shares of Occidental Petroleum by 1,075.3% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer's stock worth $95,400,000 after acquiring an additional 1,766,491 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Occidental Petroleum by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer's stock worth $401,162,000 after acquiring an additional 710,220 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Occidental Petroleum by 926.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer's stock worth $38,381,000 after acquiring an additional 701,846 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $45.69 on Friday. The business has a 50 day moving average price of $44.93 and a 200 day moving average price of $43.85. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $56.49. The company has a market cap of $44.98 billion, a price-to-earnings ratio of 27.04 and a beta of 1.04. 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 (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating 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 the consensus estimate of $6.29 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.1%. Occidental Petroleum's dividend payout ratio is 56.80%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OXY shares. Melius Research started coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They set a "hold" rating and a $64.00 price target for the company. Citigroup upped their price target on Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Morgan Stanley reiterated an "equal weight" rating and set a $52.00 price target on shares of Occidental Petroleum in a research note on Monday, August 18th. JPMorgan Chase & Co. upped their price target on Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, Scotiabank upped their price target on Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Four analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target 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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