Occidental Petroleum Corporation $OXY Stock Purchased by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group increased its Occidental Petroleum stake by 68.1% in the third quarter, adding 19,667 shares to hold 48,553 shares valued at about $3.12 million.
• Occidental reported quarterly earnings of $2.40 per share, beating the $1.83 analyst estimate, while revenue rose 53.4% year over year to $8.06 billion.
• Analysts’ consensus rating is Hold, with an average price target of $67.88. The company also announced a quarterly dividend of $0.28 per share, equivalent to a 2.0% annualized yield.

Chicago Partners Investment Group LLC raised its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 68.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,553 shares of the oil and gas producer's stock after buying an additional 19,667 shares during the period. Chicago Partners Investment Group LLC's holdings in Occidental Petroleum were worth $3,116,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Axiom Investment Management LLC bought a new position in Occidental Petroleum in the 1st quarter worth approximately $25,000. Hara Capital LLC acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at $25,000. GKV Capital Management Co. Inc. purchased a new position in shares of Occidental Petroleum in the first quarter valued at approximately $26,000. William Mack & Associates Inc. acquired a new stake in Occidental Petroleum during the third quarter worth about $27,000. Finally, Fiduciary Financial Advisors purchased a new position in shares of Occidental Petroleum during the second quarter worth $31,000. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $56.49 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The company has a market cap of $56.47 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 0.70 and a beta of 0.16. The firm's fifty day moving average is $60.05 and its 200 day moving average is $56.29. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-week high of $67.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.57. The firm had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business's quarterly revenue was up 53.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 earnings per share. Sell-side analysts forecast that Occidental Petroleum Corporation will post 6.81 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 10th will be given a $0.28 dividend. The ex-dividend date is Thursday, December 10th. This represents a $1.12 annualized dividend and a yield of 2.0%. Occidental Petroleum's dividend payout ratio is presently 17.34%.

Analyst Ratings Changes

Several analysts recently commented on OXY shares. Barclays reduced their price objective on shares of Occidental Petroleum from $75.00 to $71.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. The Goldman Sachs Group lifted their price objective on Occidental Petroleum from $69.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, October 27th. Susquehanna lifted their price target on Occidental Petroleum from $70.00 to $77.00 and gave the company a "positive" rating in a report on Tuesday, October 20th. Citigroup reduced their target price on shares of Occidental Petroleum from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, July 17th. Finally, Piper Sandler assumed coverage on Occidental Petroleum in a report on Tuesday, October 27th. They issued a "neutral" rating and a $69.00 target price for the company. Twelve investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, Occidental Petroleum has a consensus rating of "Hold" and an average price target of $67.88.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation is an energy and chemicals company headquartered in Houston, Texas. Its oil and gas business explores for and produces crude oil, natural gas liquids and natural gas, with operations in the United States and international markets, including the Middle East and North Africa.

Through its OxyChem business, Occidental manufactures and markets basic chemicals and vinyl products used in applications such as water treatment, construction and consumer goods.

The company also develops carbon management and lower-carbon technology projects, including carbon capture and storage.

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