Occidental Petroleum Corporation $OXY Shares Bought by Journey Advisory Group LLC

Journey Advisory Group LLC increased its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 72.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,326 shares of the oil and gas producer’s stock after purchasing an additional 3,492 shares during the quarter. Journey Advisory Group LLC’s holdings in Occidental Petroleum were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in OXY. Vanguard Group Inc. raised its holdings in shares of Occidental Petroleum by 17.8% during 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 acquiring an additional 12,107,285 shares during the last quarter. Nuveen LLC acquired a new position in shares of Occidental Petroleum during the first quarter valued at approximately $99,853,000. Dimensional Fund Advisors LP raised its holdings in shares of Occidental Petroleum by 9.6% during the first quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock valued at $401,162,000 after acquiring an additional 710,220 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Occidental Petroleum by 926.9% during the first quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock valued at $38,381,000 after acquiring an additional 701,846 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Occidental Petroleum during the second quarter valued at approximately $28,584,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Susquehanna reduced their target price on Occidental Petroleum from $55.00 to $54.00 and set a “positive” rating for the company in a report on Monday. Melius Research assumed coverage on Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. Evercore ISI cut their price target on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a report on Friday, October 3rd. Melius assumed coverage on Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. Finally, Piper Sandler increased their price target on Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $52.39.

Occidental Petroleum Trading Up 0.4%

Shares of Occidental Petroleum stock opened at $41.05 on Tuesday. The firm has a market capitalization of $40.41 billion, a price-to-earnings ratio of 24.29 and a beta of 0.95. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. 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 stock has a 50 day moving average of $45.41 and a 200 day moving average of $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 for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $6.41 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. As a group, research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

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

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.