International Assets Investment Management LLC Decreases Stock Holdings in Occidental Petroleum Corporation $OXY

Key Points

• International Assets Investment Management LLC reduced its shareholding in Occidental Petroleum by 36.4% in the second quarter, leaving them with 60,297 shares valued at approximately $2.53 million.
• A majority of institutional investors, including Vanguard Group and Dimensional Fund Advisors, have increased their stakes in Occidental Petroleum, indicating strong institutional interest in the company.
• Analysts have mixed ratings for Occidental Petroleum, with one "Strong Buy," six "Buy," and three "Sell" ratings, while the average price target sits at $52.43.

International Assets Investment Management LLC trimmed its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 36.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,297 shares of the oil and gas producer's stock after selling 34,468 shares during the quarter. International Assets Investment Management LLC's holdings in Occidental Petroleum were worth $2,533,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Occidental Petroleum by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer's stock worth $3,960,202,000 after purchasing an additional 12,107,285 shares in the last quarter. H&H International Investment LLC raised its position in shares of Occidental Petroleum by 1.8% during the 1st quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer's stock valued at $682,456,000 after buying an additional 249,100 shares during the period. Dimensional Fund Advisors LP raised its position 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 valued at $401,162,000 after buying an additional 710,220 shares during the period. Northern Trust Corp raised its position in shares of Occidental Petroleum by 1.6% during the 1st quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer's stock valued at $354,180,000 after buying an additional 110,378 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Occidental Petroleum by 4.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer's stock valued at $218,799,000 after buying an additional 195,742 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OXY has been the topic of several analyst reports. Wall Street Zen lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Morgan Stanley reaffirmed an "equal weight" rating and set a $52.00 price target on shares of Occidental Petroleum in a research report on Monday, August 18th. Mizuho raised Occidental Petroleum from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $58.00 to $60.00 in a research report on Friday, October 3rd. Melius Research assumed coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 target price on the stock. Finally, Roth Capital boosted their target price on Occidental Petroleum from $45.00 to $46.00 and gave the company a "neutral" rating in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $52.43.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $40.91 on Friday. The company has a fifty day simple moving average of $45.46 and a two-hundred day simple moving average of $43.39. The company has a market cap of $40.28 billion, a price-to-earnings ratio of 24.21 and a beta of 0.95. 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 52 week low of $34.78 and a 52 week high of $53.20.

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 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company's quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 earnings per share. As a group, equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th were paid a $0.24 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. Occidental Petroleum's payout ratio is 56.80%.

About Occidental Petroleum

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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