Stephens Inc. AR Acquires 6,920 Shares of Occidental Petroleum Corporation $OXY

Key Points

• Stephens Inc. AR increased its holdings in Occidental Petroleum Corporation by 60.0%, acquiring an additional 6,920 shares in the second quarter for a total of 18,455 shares valued at approximately $775,000.
• Occidental Petroleum has a market cap of $41.94 billion and reported earnings of $0.39 per share in its latest quarter, exceeding analyst expectations.
• The company declared a quarterly dividend of $0.24 per share, resulting in an annualized yield of 2.3% with a payout ratio of 56.80%.

Stephens Inc. AR raised its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 60.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,455 shares of the oil and gas producer's stock after acquiring an additional 6,920 shares during the quarter. Stephens Inc. AR's holdings in Occidental Petroleum were worth $775,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Balboa Wealth Partners bought a new position in shares of Occidental Petroleum in the second quarter worth about $614,000. Cidel Asset Management Inc. grew its holdings in Occidental Petroleum by 16.8% during the 2nd quarter. Cidel Asset Management Inc. now owns 8,418 shares of the oil and gas producer's stock valued at $354,000 after buying an additional 1,209 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in Occidental Petroleum by 3.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 81,245 shares of the oil and gas producer's stock valued at $3,413,000 after buying an additional 2,690 shares in the last quarter. CapWealth Advisors LLC grew its holdings in Occidental Petroleum by 216.4% during the 2nd quarter. CapWealth Advisors LLC now owns 14,255 shares of the oil and gas producer's stock valued at $599,000 after buying an additional 9,750 shares in the last quarter. Finally, Koshinski Asset Management Inc. grew its holdings in Occidental Petroleum by 13.7% during the 2nd quarter. Koshinski Asset Management Inc. now owns 37,230 shares of the oil and gas producer's stock valued at $1,564,000 after buying an additional 4,494 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Down 0.6%

Shares of OXY stock opened at $42.60 on Friday. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $53.20. The stock's fifty day moving average price is $45.21 and its 200 day moving average price is $43.44. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The company has a market cap of $41.94 billion, a price-to-earnings ratio of 25.21 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The firm's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. On average, research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, September 10th. Occidental Petroleum's payout ratio is presently 56.80%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Hsbc Global Res upgraded Occidental Petroleum from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. Piper Sandler cut their price target on Occidental Petroleum from $50.00 to $47.00 and set a "neutral" rating for the company in a report on Tuesday. Morgan Stanley restated an "equal weight" rating and set a $52.00 price target on shares of Occidental Petroleum in a report on Monday, August 18th. Melius Research assumed coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a "hold" rating and a $64.00 price target for the company. Finally, Scotiabank raised their price target on Occidental Petroleum from $45.00 to $47.00 and gave the company a "sector perform" rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $52.26.

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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