Intrinsic Value Partners LLC Grows Position in Occidental Petroleum Corporation $OXY

Intrinsic Value Partners LLC increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 12.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,467 shares of the oil and gas producer’s stock after purchasing an additional 7,142 shares during the period. Occidental Petroleum makes up 2.4% of Intrinsic Value Partners LLC’s portfolio, making the stock its 13th largest holding. Intrinsic Value Partners LLC’s holdings in Occidental Petroleum were worth $2,666,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Grove Bank & Trust boosted its stake in shares of Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 407 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Occidental Petroleum during the 1st quarter worth about $39,000. Spectrum Wealth Counsel LLC lifted its holdings in Occidental Petroleum by 5,000.0% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after buying an additional 1,000 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Occidental Petroleum during the 1st quarter valued at about $54,000. Finally, Trifecta Capital Advisors LLC lifted its holdings in Occidental Petroleum by 4,393.9% during the 1st quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer’s stock valued at $73,000 after buying an additional 1,450 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Up 1.4%

NYSE OXY opened at $44.86 on Friday. 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 firm has a market cap of $44.16 billion, a PE ratio of 26.54 and a beta of 0.95. The company has a 50 day moving average price of $45.63 and a 200 day moving average price of $43.82. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $56.49.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. Occidental Petroleum’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. As a group, sell-side analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s payout ratio is 56.80%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OXY. Mizuho upgraded shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $58.00 to $60.00 in a report on Friday. Wall Street Zen lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Melius began coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. Piper Sandler boosted their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $52.87.

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.