Signaturefd LLC Grows Position in Occidental Petroleum Corporation $OXY

Key Points

• Signaturefd LLC significantly increased its stake in Occidental Petroleum by 173.2%, bringing its total holdings to 29,087 shares valued at approximately $1.22 million.
• Occidental Petroleum reported earnings of $0.39 per share for the last quarter, exceeding analysts' expectations, with a revenue of $6.41 billion despite a year-over-year decline.
• The company announced a quarterly dividend of $0.24, resulting in an annual yield of 2.0%, and its dividend payout ratio stands at 56.80%.

Signaturefd LLC raised its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 173.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,087 shares of the oil and gas producer's stock after purchasing an additional 18,441 shares during the quarter. Signaturefd LLC's holdings in Occidental Petroleum were worth $1,222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OXY. Meridian Investment Counsel Inc. grew its stake in Occidental Petroleum by 11.4% during the second quarter. Meridian Investment Counsel Inc. now owns 15,695 shares of the oil and gas producer's stock worth $659,000 after buying an additional 1,600 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Occidental Petroleum by 0.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 79,698 shares of the oil and gas producer's stock valued at $3,348,000 after acquiring an additional 540 shares in the last quarter. Cove Private Wealth LLC lifted its holdings in shares of Occidental Petroleum by 109.9% during the 2nd quarter. Cove Private Wealth LLC now owns 9,931 shares of the oil and gas producer's stock valued at $417,000 after acquiring an additional 5,200 shares in the last quarter. One Plus One Wealth Management LLC purchased a new position in Occidental Petroleum in the second quarter valued at about $685,000. Finally, Patton Fund Management Inc. purchased a new position in Occidental Petroleum in the second quarter valued at about $229,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OXY. JPMorgan Chase & Co. increased their target price on Occidental Petroleum from $47.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. UBS Group boosted their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a "neutral" rating in a research report on Monday, September 15th. Wells Fargo & Company reduced their target price on shares of 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 initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a "hold" rating and a $64.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $54.70.

Occidental Petroleum Trading Up 1.0%

Shares of NYSE:OXY opened at $47.46 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $56.49. The firm has a fifty day moving average of $45.39 and a two-hundred day moving average of $43.80. The firm has a market capitalization of $46.72 billion, a P/E ratio of 28.08 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The firm 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 13.78%. The company's revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. On average, equities analysts expect 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. Investors of record on Wednesday, September 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio (DPR) is 56.80%.

About Occidental Petroleum

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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