Occidental Petroleum Corporation $OXY Shares Purchased by Brookstone Capital Management

Brookstone Capital Management raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 34.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,968 shares of the oil and gas producer’s stock after purchasing an additional 4,301 shares during the period. Brookstone Capital Management’s holdings in Occidental Petroleum were worth $713,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Occidental Petroleum in the first quarter worth $1,274,000. Kestra Private Wealth Services LLC increased its position in shares of Occidental Petroleum by 5.6% in the first quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock worth $843,000 after acquiring an additional 906 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Occidental Petroleum by 9.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock worth $78,813,000 after acquiring an additional 140,528 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Occidental Petroleum by 77.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 139,086 shares of the oil and gas producer’s stock worth $5,843,000 after acquiring an additional 60,793 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. acquired a new stake in shares of Occidental Petroleum in the first quarter worth $344,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Melius assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective for the company. HSBC upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and upped their target price for the company from $48.00 to $55.00 in a research note on Friday, October 3rd. Susquehanna decreased their target price on shares of Occidental Petroleum from $55.00 to $54.00 and set a “positive” rating for the company in a research note on Monday, October 20th. UBS Group decreased their target price on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Occidental Petroleum from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $52.26.

Occidental Petroleum Trading Down 0.6%

NYSE OXY opened at $42.60 on Monday. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $53.20. 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 has a market capitalization of $41.94 billion, a price-to-earnings ratio of 25.21 and a beta of 0.95. The company’s fifty day moving average price is $45.21 and its two-hundred day moving average price is $43.51.

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, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. As a group, research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

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