Chapin Davis Inc. Has $507,000 Holdings in Occidental Petroleum Corporation $OXY

Chapin Davis Inc. boosted its stake in Occidental Petroleum Corporation (NYSE:OXY) by 2.9% in the second quarter, HoldingsChannel reports. The firm owned 12,077 shares of the oil and gas producer’s stock after acquiring an additional 339 shares during the period. Chapin Davis Inc.’s holdings in Occidental Petroleum were worth $507,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Scharf Investments LLC increased its stake in shares of Occidental Petroleum by 17.5% in the 2nd quarter. Scharf Investments LLC now owns 3,480,890 shares of the oil and gas producer’s stock valued at $146,232,000 after acquiring an additional 517,451 shares during the last quarter. S.A. Mason LLC grew its holdings in 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 purchasing an additional 295 shares during the period. Clear Harbor Asset Management LLC increased its stake in Occidental Petroleum by 227.6% in the second quarter. Clear Harbor Asset Management LLC now owns 27,539 shares of the oil and gas producer’s stock valued at $1,157,000 after purchasing an additional 19,132 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Occidental Petroleum in the second quarter worth $13,636,000. Finally, Silver Oak Securities Incorporated increased its position in shares of Occidental Petroleum by 34.4% in the 2nd quarter. Silver Oak Securities Incorporated now owns 7,863 shares of the oil and gas producer’s stock valued at $330,000 after buying an additional 2,011 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 2.5%

Shares of OXY opened at $46.16 on Monday. The firm has a market cap of $45.44 billion, a P/E ratio of 27.31 and a beta of 1.04. 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 $56.49. The firm’s 50-day simple moving average is $45.07 and its 200 day simple moving average is $43.79.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. On average, analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Occidental Petroleum’s dividend payout ratio is 56.80%.

Analyst Ratings Changes

A number of research firms recently issued reports on OXY. Piper Sandler increased their target price on Occidental Petroleum from $48.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. UBS Group increased their price objective on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Wells Fargo & Company cut their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 15th. Melius Research began coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target on the stock. Finally, Mizuho reduced their price objective on Occidental Petroleum from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $54.70.

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.