Sender Co & Partners Inc. Makes New $429,000 Investment in Occidental Petroleum Corporation $OXY

Key Points

• Sender Co & Partners Inc. acquired 8,688 shares of Occidental Petroleum valued at approximately $429,000 in Q1.
• Several institutional investors, including Vanguard Group Inc., have increased their stakes in Occidental Petroleum, contributing to over 88.70% of the stock being held by institutional investors.
• Occidental Petroleum reported Q2 earnings of $0.39 per share, exceeding estimates, with revenue of $6.41 billion, despite a 6.1% year-over-year decline.

Sender Co & Partners Inc. acquired a new stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 8,688 shares of the oil and gas producer's stock, valued at approximately $429,000.

A number of other hedge funds have also recently bought and sold shares of OXY. Vanguard Group Inc. grew its stake 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 valued at $3,960,202,000 after purchasing an additional 12,107,285 shares in the last quarter. Nuveen LLC bought a new position in shares of Occidental Petroleum in the first quarter valued at $99,853,000. Worldquant Millennium Advisors LLC grew its stake in shares of Occidental Petroleum by 1,075.3% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer's stock valued at $95,400,000 after buying an additional 1,766,491 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Occidental Petroleum by 9.6% in the first 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 buying an additional 710,220 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Occidental Petroleum by 926.9% in the first quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer's stock valued at $38,381,000 after buying an additional 701,846 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock traded down $0.25 on Tuesday, hitting $45.13. The stock had a trading volume of 6,068,787 shares, compared to its average volume of 7,805,282. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $56.49. The business's 50 day moving average is $44.80 and its two-hundred day moving average is $43.88. 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 stock has a market cap of $44.43 billion, a price-to-earnings ratio of 26.70 and a beta of 1.04.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS 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 for the quarter, compared to the consensus estimate of $6.29 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The firm's revenue for the quarter was down 6.1% on a year-over-year basis. Analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is currently 56.80%.

Analyst Upgrades and Downgrades

OXY has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Wells Fargo & Company lowered their price target on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. Melius Research began coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They set a "hold" rating and a $64.00 price target on the stock. Melius began coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a "hold" rating and a $64.00 target price on the stock. Finally, UBS Group boosted their target price on Occidental Petroleum from $42.00 to $45.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Four equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $54.65.

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.