Southeast Asset Advisors LLC Raises Stock Position in Occidental Petroleum Corporation $OXY

Southeast Asset Advisors LLC increased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 35.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,443 shares of the oil and gas producer’s stock after purchasing an additional 9,234 shares during the quarter. Southeast Asset Advisors LLC’s holdings in Occidental Petroleum were worth $1,489,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quadcap Wealth Management LLC boosted its stake in Occidental Petroleum by 6.5% in the second quarter. Quadcap Wealth Management LLC now owns 12,155 shares of the oil and gas producer’s stock valued at $511,000 after acquiring an additional 745 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in shares of Occidental Petroleum by 33.4% during the 2nd quarter. Insigneo Advisory Services LLC now owns 10,611 shares of the oil and gas producer’s stock valued at $446,000 after acquiring an additional 2,657 shares during the period. CreativeOne Wealth LLC boosted its position in shares of Occidental Petroleum by 15.0% in the 2nd quarter. CreativeOne Wealth LLC now owns 59,192 shares of the oil and gas producer’s stock worth $2,487,000 after buying an additional 7,704 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Occidental Petroleum by 23.6% in the second quarter. Coldstream Capital Management Inc. now owns 20,973 shares of the oil and gas producer’s stock valued at $881,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Occidental Petroleum by 11.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,955,130 shares of the oil and gas producer’s stock valued at $208,165,000 after acquiring an additional 522,408 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 0.1%

Shares of OXY stock opened at $41.50 on Tuesday. The firm’s fifty day simple moving average is $43.26 and its 200 day simple moving average is $43.82. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20. The firm has a market capitalization of $40.89 billion, a P/E ratio of 24.56 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same period last year, the firm earned $1.00 EPS. The firm’s revenue for the quarter 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 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 70.59%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Scotiabank lifted their price objective on Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Raymond James Financial reaffirmed an “outperform” rating on shares of Occidental Petroleum in a report on Tuesday. Mizuho boosted their price target on Occidental Petroleum from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Melius started coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price on the stock. Finally, UBS Group cut their price objective 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, five have issued a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $51.19.

Occidental Petroleum 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.