22,817 Shares in Occidental Petroleum Corporation (NYSE:OXY) Bought by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. has acquired a new position in Occidental Petroleum Corporation, purchasing 22,817 shares valued at approximately $1,126,000.
• Wall Street analysts have mixed views on Occidental Petroleum, with a current average rating of "Hold" and a target price of $53.71, while some analysts have adjusted their price targets both upward and downward.
• The company recently reported a quarterly dividend of $0.24 per share, with a yield of 2.2% and a payout ratio of 39.02%.

Jefferies Financial Group Inc. acquired a new position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,817 shares of the oil and gas producer's stock, valued at approximately $1,126,000.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Occidental Petroleum by 5.0% in the fourth quarter. Wellington Management Group LLP now owns 108,232 shares of the oil and gas producer's stock worth $5,348,000 after acquiring an additional 5,160 shares during the period. World Investment Advisors bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $228,000. Resona Asset Management Co. Ltd. bought a new position in Occidental Petroleum during the fourth quarter valued at $8,982,000. Wedbush Securities Inc. grew its position in Occidental Petroleum by 10.3% in the 4th quarter. Wedbush Securities Inc. now owns 18,321 shares of the oil and gas producer's stock valued at $905,000 after acquiring an additional 1,712 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Occidental Petroleum by 14.6% in the 4th quarter. Cerity Partners LLC now owns 80,892 shares of the oil and gas producer's stock valued at $4,059,000 after purchasing an additional 10,312 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Up 1.5%

Shares of OXY stock traded up $0.67 during trading hours on Friday, reaching $44.26. 8,541,375 shares of the stock were exchanged, compared to its average volume of 12,104,068. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $59.11. The business's fifty day moving average is $43.86 and its two-hundred day moving average is $44.42. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. The firm has a market capitalization of $43.56 billion, a P/E ratio of 26.19 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (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 analysts' expectations of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.95%. The company's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 EPS. As a group, research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.2%. Occidental Petroleum's payout ratio is presently 56.80%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Wells Fargo & Company reduced their price target on shares of 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. Mizuho decreased their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Scotiabank lifted their price target on Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Finally, UBS Group cut their price objective on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $53.71.

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.