Harbour Investments Inc. Increases Position in Occidental Petroleum Corporation $OXY

Harbour Investments Inc. grew its position in Occidental Petroleum Corporation (NYSE:OXY) by 5.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,992 shares of the oil and gas producer’s stock after buying an additional 644 shares during the quarter. Harbour Investments Inc.’s holdings in Occidental Petroleum were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of 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. H&H International Investment LLC boosted its position in Occidental Petroleum by 1.8% in the 1st quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer’s stock valued at $682,456,000 after buying an additional 249,100 shares during the period. 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 worth $401,162,000 after acquiring an additional 710,220 shares in the last quarter. Northern Trust Corp increased its position in shares of Occidental Petroleum by 1.6% during the first quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer’s stock worth $354,180,000 after acquiring an additional 110,378 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Occidental Petroleum by 4.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer’s stock valued at $218,799,000 after acquiring an additional 195,742 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on OXY shares. Weiss Ratings restated a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday, October 8th. Roth Capital lifted their price target on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. HSBC upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and raised their price objective for the company from $48.00 to $55.00 in a report on Friday, October 3rd. JPMorgan Chase & Co. boosted their target price on shares of Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Finally, UBS Group dropped their target price on Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $52.43.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $40.91 on Monday. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $53.20. The firm has a market capitalization of $40.28 billion, a P/E ratio of 24.21 and a beta of 0.95. 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’s fifty day moving average price is $45.46 and its 200 day moving average price is $43.39.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $6.29 billion. During the same quarter last year, the company posted $1.03 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

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

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.