Intrinsic Value Partners LLC Acquires 7,142 Shares of Occidental Petroleum Corporation $OXY

Key Points

• Intrinsic Value Partners LLC increased its shareholding in Occidental Petroleum by 12.7%, owning a total of 63,467 shares valued at approximately $2.67 million after acquiring an additional 7,142 shares.
• Institutional investors hold 88.70% of Occidental Petroleum’s stock, with Vanguard Group leading by owning over 80 million shares worth approximately $3.96 billion.
• Analysts are mixed on Occidental Petroleum's outlook, with six analysts giving a Buy rating while others maintain Hold and Sell ratings, leading to a consensus target price of $52.87.

Intrinsic Value Partners LLC grew its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 12.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,467 shares of the oil and gas producer's stock after acquiring an additional 7,142 shares during the period. Occidental Petroleum accounts for 2.4% of Intrinsic Value Partners LLC's portfolio, making the stock its 13th largest holding. Intrinsic Value Partners LLC's holdings in Occidental Petroleum were worth $2,666,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position 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 worth $3,960,202,000 after acquiring an additional 12,107,285 shares during the period. 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 purchasing 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 purchasing 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 purchasing 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 purchasing an additional 195,742 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OXY has been the topic of several recent analyst reports. UBS Group decreased their price objective on shares of Occidental Petroleum from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Friday. HSBC upgraded shares of Occidental Petroleum from a "hold" rating to a "buy" rating and raised their price objective for the company from $48.00 to $55.00 in a research report on Friday. Scotiabank lifted their price target on shares of Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Morgan Stanley reiterated an "equal weight" rating and issued a $52.00 price target on shares of Occidental Petroleum in a report on Monday, August 18th. Finally, Melius began coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Occidental Petroleum has an average rating of "Hold" and a consensus target price of $52.87.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $44.86 on Friday. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $56.49. The stock has a market capitalization of $44.16 billion, a P/E ratio of 26.54 and a beta of 0.95. The firm has a fifty day simple moving average of $45.63 and a two-hundred day simple moving average of $43.82. 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 issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $6.29 billion. During the same period last year, the company posted $1.03 EPS. The business's revenue was down 6.1% on a year-over-year basis. On average, analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 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.

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