ProShare Advisors LLC Purchases 25,292 Shares of Occidental Petroleum Corporation $OXY

ProShare Advisors LLC grew its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 19.6% during the second quarter, Holdings Channel reports. The institutional investor owned 154,080 shares of the oil and gas producer’s stock after purchasing an additional 25,292 shares during the quarter. ProShare Advisors LLC’s holdings in Occidental Petroleum were worth $6,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new stake in Occidental Petroleum in the 2nd quarter valued at about $27,000. Hantz Financial Services Inc. increased its stake in shares of Occidental Petroleum by 1,193.9% in the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 788 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $39,000. MeadowBrook Investment Advisors LLC lifted its stake in shares of Occidental Petroleum by 371.7% during the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after buying an additional 788 shares in the last quarter. Finally, Spectrum Wealth Counsel LLC boosted its holdings in Occidental Petroleum by 5,000.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 0.1%

Shares of OXY opened at $41.97 on Friday. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $53.20. The company has a market capitalization of $41.32 billion, a P/E ratio of 24.84 and a beta of 0.91. 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’s 50 day simple moving average is $43.80 and its 200 day simple moving average is $43.68.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results 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. The business had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 EPS. Sell-side analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be paid 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, December 10th. Occidental Petroleum’s dividend payout ratio is currently 70.59%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OXY. Piper Sandler reduced their price target on Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, October 21st. Bank of America lifted their target price on Occidental Petroleum from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Evercore ISI decreased their price target on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a research report on Friday, October 3rd. Morgan Stanley restated an “equal weight” rating and issued a $52.00 price objective on shares of Occidental Petroleum in a research report on Monday, August 18th. Finally, UBS Group decreased their target price on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $51.24.

Occidental Petroleum Company 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.