Aberdeen Group plc Has $30.72 Million Holdings in Occidental Petroleum Corporation $OXY

Aberdeen Group plc boosted its position in Occidental Petroleum Corporation (NYSE:OXY) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 731,158 shares of the oil and gas producer’s stock after buying an additional 30,746 shares during the period. Aberdeen Group plc’s holdings in Occidental Petroleum were worth $30,716,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of OXY. Vanguard Group Inc. boosted its position in 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 bought a new stake in Occidental Petroleum during the first quarter valued at $99,853,000. Dimensional Fund Advisors LP boosted its position in 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 boosted its position in 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 bought a new stake in Occidental Petroleum during the second quarter valued at $28,584,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 5.2%

NYSE:OXY opened at $42.22 on Monday. 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 firm has a 50-day moving average of $45.62 and a 200-day moving average of $43.61. The company has a market cap of $41.56 billion, a PE ratio of 24.98 and a beta of 0.95. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $55.24.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, equities research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio is presently 56.80%.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of research analyst reports. HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and upped their price target for the company from $48.00 to $55.00 in a research report on Friday, October 3rd. Wells Fargo & Company decreased their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 15th. Piper Sandler lifted their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Hsbc Global Res raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $52.52.

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.