Intrinsic Value Partners LLC Acquires 11,280 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Key Points

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Intrinsic Value Partners LLC raised its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 25.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,325 shares of the oil and gas producer's stock after purchasing an additional 11,280 shares during the quarter. Occidental Petroleum makes up 2.7% of Intrinsic Value Partners LLC's holdings, making the stock its 12th biggest position. Intrinsic Value Partners LLC's holdings in Occidental Petroleum were worth $2,780,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Benchmark Investment Advisors LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at about $642,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Occidental Petroleum in the first quarter valued at about $1,274,000. Kestra Private Wealth Services LLC grew its stake in shares of Occidental Petroleum by 5.6% in the first quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer's stock valued at $843,000 after acquiring an additional 906 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Occidental Petroleum by 9.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer's stock valued at $78,813,000 after acquiring an additional 140,528 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Occidental Petroleum by 25.2% in the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock valued at $314,133,000 after acquiring an additional 1,278,389 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Scotiabank lifted their price objective on Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Piper Sandler increased their target price on Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Barclays increased their target price on Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Finally, UBS Group reduced their price target on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus target price of $53.71.

Occidental Petroleum Trading Down 1.3%

Shares of NYSE:OXY traded down $0.56 during mid-day trading on Friday, reaching $43.38. 14,403,389 shares of the company's stock were exchanged, compared to its average volume of 10,073,041. The firm has a market capitalization of $42.69 billion, a price-to-earnings ratio of 17.63 and a beta of 0.91. The business's fifty day moving average price is $43.73 and its 200-day moving average price is $44.67. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $59.31.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. Occidental Petroleum's revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share. On average, research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company 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. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is currently 39.02%.

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.