Occidental Petroleum Corporation $OXY Shares Acquired by Norden Group LLC

Key Points

• Norden Group LLC increased its stake in Occidental Petroleum Corporation by 25.0% during the second quarter, owning a total of 40,455 shares valued at $1.7 million.
• Analysts have set an average target price for Occidental Petroleum at $54.70, with a mix of ratings including four "Buy," seventeen "Hold," and two "Sell" ratings.
• Occidental Petroleum announced a quarterly dividend of $0.24 per share, equating to a yield of 2.1%, set to be paid on October 15th.

Norden Group LLC increased its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 25.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,455 shares of the oil and gas producer's stock after purchasing an additional 8,083 shares during the quarter. Norden Group LLC's holdings in Occidental Petroleum were worth $1,700,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of OXY. Bernard Wealth Management Corp. acquired a new stake in Occidental Petroleum in the 4th quarter valued at about $32,000. Grove Bank & Trust lifted its holdings in Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after acquiring an additional 407 shares during the last quarter. American National Bank & Trust acquired a new stake in Occidental Petroleum in the 1st quarter valued at about $39,000. Caitong International Asset Management Co. Ltd acquired a new stake in Occidental Petroleum in the 1st quarter valued at about $39,000. Finally, Spectrum Wealth Counsel LLC lifted its holdings in Occidental Petroleum by 5,000.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock valued at $50,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Melius assumed coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price target for the company. Wall Street Zen lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. upped their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Piper Sandler upped their price objective on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Scotiabank upped their price objective on shares of Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Four equities research 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.com, the company currently has an average rating of "Hold" and an average target price of $54.70.

Occidental Petroleum Trading Up 1.4%

Shares of OXY stock opened at $46.39 on Wednesday. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $56.49. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The business's 50 day moving average is $45.16 and its two-hundred day moving average is $43.80. The company has a market cap of $45.66 billion, a PE ratio of 27.45 and a beta of 1.04.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $6.41 billion during the quarter, compared to analysts' expectations of $6.29 billion. During the same period in the prior year, the business earned $1.03 earnings per share. Occidental Petroleum's revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business 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 dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is currently 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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