Balboa Wealth Partners Takes Position in Occidental Petroleum Corporation $OXY

Balboa Wealth Partners acquired a new stake in shares of Occidental Petroleum Corporation (NYSE:OXYFree Report) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 14,626 shares of the oil and gas producer’s stock, valued at approximately $614,000.

A number of other hedge funds have also recently made changes to their positions in the business. Northeast Financial Consultants Inc grew its holdings in shares of Occidental Petroleum by 0.4% during the first quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer’s stock valued at $2,890,000 after buying an additional 242 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of Occidental Petroleum by 3.8% during the second quarter. Inspire Investing LLC now owns 6,720 shares of the oil and gas producer’s stock valued at $282,000 after buying an additional 247 shares during the last quarter. S.A. Mason LLC grew its holdings in shares of Occidental Petroleum by 5.9% during the second quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer’s stock valued at $223,000 after buying an additional 295 shares during the last quarter. Moody National Bank Trust Division grew its holdings in shares of Occidental Petroleum by 2.0% during the second quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer’s stock valued at $644,000 after buying an additional 300 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its position in shares of Occidental Petroleum by 3.7% during the second quarter. Verdence Capital Advisors LLC now owns 8,437 shares of the oil and gas producer’s stock valued at $354,000 after purchasing an additional 300 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $41.05 on Tuesday. The firm has a market cap of $40.41 billion, a price-to-earnings ratio of 24.29 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. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20. The firm’s 50-day simple moving average is $45.41 and its two-hundred day simple moving average is $43.39.

Occidental Petroleum (NYSE:OXYGet Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th were given a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. Occidental Petroleum’s payout ratio is 56.80%.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent analyst reports. HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and raised their price target for the company from $48.00 to $55.00 in a research report on Friday, October 3rd. Melius Research initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target on the stock. Susquehanna dropped their price target on shares of Occidental Petroleum from $55.00 to $54.00 and set a “positive” rating on the stock in a research report on Monday. Melius initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target on the stock. Finally, Mizuho raised shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and raised their price target for the company from $58.00 to $60.00 in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $52.39.

Read Our Latest Stock Analysis on Occidental Petroleum

About Occidental Petroleum

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Corporation (NYSE:OXYFree Report).

Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.