Vanguard Personalized Indexing Management LLC Buys 60,793 Shares of Occidental Petroleum Corporation $OXY

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Occidental Petroleum by 77.6%, purchasing an additional 60,793 shares, bringing its total holdings to 139,086 shares worth approximately $5.84 million.
• Several brokerages have revised their ratings on Occidental Petroleum, with prices ranging from $46.00 to $64.00. The average rating remains a "Hold" with a target price of $52.52.
• Occidental Petroleum announced a quarterly dividend of $0.24, representing an annualized yield of 2.3%, with an upcoming ex-dividend date on September 10th.

Vanguard Personalized Indexing Management LLC lifted its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 77.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,086 shares of the oil and gas producer's stock after purchasing an additional 60,793 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Occidental Petroleum were worth $5,843,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in OXY. GAMMA Investing LLC grew its holdings in shares of Occidental Petroleum by 28.4% in the first quarter. GAMMA Investing LLC now owns 6,816 shares of the oil and gas producer's stock worth $336,000 after purchasing an additional 1,507 shares during the last quarter. Integrated Advisors Network LLC bought a new position in shares of Occidental Petroleum in the first quarter worth about $208,000. Wealth Enhancement Advisory Services LLC grew its holdings in Occidental Petroleum by 14.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 109,614 shares of the oil and gas producer's stock worth $5,411,000 after acquiring an additional 13,726 shares in the last quarter. Northstar Group Inc. grew its holdings in Occidental Petroleum by 10.7% during the 1st quarter. Northstar Group Inc. now owns 10,569 shares of the oil and gas producer's stock worth $522,000 after acquiring an additional 1,020 shares in the last quarter. Finally, Sowell Financial Services LLC grew its holdings in Occidental Petroleum by 9.7% during the 1st quarter. Sowell Financial Services LLC now owns 19,601 shares of the oil and gas producer's stock worth $967,000 after acquiring an additional 1,737 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on OXY. Melius Research began coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a "hold" rating and a $64.00 target price on the stock. Hsbc Global Res upgraded shares of Occidental Petroleum from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. Wall Street Zen cut shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Scotiabank increased their target price on shares of Occidental Petroleum from $45.00 to $47.00 and gave the stock a "sector perform" rating in a report on Thursday, October 9th. Finally, Wells Fargo & Company dropped 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 report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $52.52.

Occidental Petroleum Stock Up 0.8%

NYSE:OXY opened at $42.47 on Tuesday. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $54.40. The stock has a market capitalization of $41.81 billion, a P/E ratio of 25.13 and a beta of 0.95. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The company's 50-day simple moving average is $45.61 and its 200-day simple moving average is $43.57.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $6.41 billion for 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 last year, the business earned $1.03 EPS. On average, equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed 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 dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 56.80%.

Occidental Petroleum 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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