Certified Advisory Corp lessened its position in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 70.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,290 shares of the oil and gas producer’s stock after selling 12,848 shares during the period. Certified Advisory Corp’s holdings in Occidental Petroleum were worth $293,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the company. Berkshire Hathaway Inc acquired a new stake in shares of Occidental Petroleum during the 2nd quarter worth about $12,868,205,000. State Street Corp lifted its holdings in Occidental Petroleum by 6.6% during the 2nd quarter. State Street Corp now owns 46,141,269 shares of the oil and gas producer’s stock valued at $2,252,271,000 after purchasing an additional 2,870,472 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Occidental Petroleum by 84.8% in the second quarter. Bank of New York Mellon Corp now owns 10,643,916 shares of the oil and gas producer’s stock valued at $516,975,000 after buying an additional 4,882,834 shares in the last quarter. Danske Bank A S acquired a new position in Occidental Petroleum in the second quarter valued at about $172,413,000. Finally, Legal & General Group Plc bought a new stake in Occidental Petroleum during the second quarter worth about $168,860,000. Institutional investors own 88.70% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Susquehanna boosted their target price on Occidental Petroleum from $70.00 to $77.00 and gave the stock a “positive” rating in a report on Tuesday, October 20th. Morgan Stanley boosted their target price on Occidental Petroleum from $69.00 to $71.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. Evercore upgraded Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Wednesday, July 8th. Finally, Truist Financial raised their price target on Occidental Petroleum from $63.00 to $64.00 and gave the company a “hold” rating in a report on Thursday, October 15th. Twelve research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $67.88.
Occidental Petroleum Trading Down 0.6%
OXY stock opened at $60.33 on Wednesday. The company has a market cap of $60.31 billion, a P/E ratio of 9.34, a PEG ratio of 0.70 and a beta of 0.16. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $60.17 and a 200-day moving average of $56.08.
Occidental Petroleum (NYSE:OXY – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.57. The business had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. The firm’s revenue for the quarter was up 53.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 earnings per share. As a group, equities research analysts expect that Occidental Petroleum Corporation will post 6.81 EPS for the current year.
Occidental Petroleum Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 10th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, December 10th. Occidental Petroleum’s payout ratio is currently 17.34%.
Occidental Petroleum News Summary
Here are the key news stories impacting Occidental Petroleum this week:
- Positive Sentiment: A Seeking Alpha analysis argues that Occidental could deliver market-beating returns by targeting a doubling of free cash flow by 2030 through efficiency gains and cost cuts. It also highlights debt reduction and potential commodity-price support; its roughly 21% annualized total-return projection assumes WTI oil at $75 per barrel, so it is conditional rather than assured. Article: Occidental Petroleum: Market Beating Returns Ahead
- Positive Sentiment: Zacks says OXY has factors that could support an earnings beat in its upcoming report. That could help sentiment, but the article provides no detailed forecast figures in the supplied summary. Article: Occidental Petroleum Earnings Expected to Grow
- Neutral Sentiment: OXY is drawing heightened investor attention ahead of its earnings release, but the search-interest article itself offers no new company fundamentals or clear directional signal. Article: Investors Heavily Search Occidental Petroleum
- Negative Sentiment: A report describes OXY shares as slipping ahead of November earnings, underscoring near-term caution as investors wait for results. The supplied article details do not identify a specific cause for the weakness. Article: Occidental Petroleum Stock Slips Before November Earnings Test
Occidental Petroleum Profile
Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.
The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.
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