Capital Investment Advisors LLC Has $235,000 Stock Holdings in Occidental Petroleum Corporation $OXY

Capital Investment Advisors LLC cut its stake in Occidental Petroleum Corporation (NYSE:OXY) by 23.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 5,588 shares of the oil and gas producer’s stock after selling 1,717 shares during the quarter. Capital Investment Advisors LLC’s holdings in Occidental Petroleum were worth $235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust raised its holdings in Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 407 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $39,000. Spectrum Wealth Counsel LLC raised its holdings in shares of Occidental Petroleum by 5,000.0% during 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 in the last quarter. Ransom Advisory Ltd acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $54,000. Finally, Trifecta Capital Advisors LLC raised its holdings in shares of Occidental Petroleum by 4,393.9% during the 1st quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 1,450 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. HSBC raised Occidental Petroleum from a “hold” rating to a “buy” rating and boosted their price target for the stock from $48.00 to $55.00 in a report on Friday. JPMorgan Chase & Co. boosted their price target on Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Melius Research assumed coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target for the company. Morgan Stanley reissued an “equal weight” rating and set a $52.00 price target on shares of Occidental Petroleum in a report on Monday, August 18th. Finally, Melius initiated coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target for the company. Six research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $52.87.

Occidental Petroleum Trading Up 1.4%

Shares of OXY stock opened at $44.86 on Friday. The firm has a market capitalization of $44.16 billion, a P/E ratio of 26.54 and a beta of 0.95. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $56.49. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The stock’s fifty day simple moving average is $45.63 and its 200 day simple moving average is $43.82.

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 for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the company posted $1.03 EPS. Occidental Petroleum’s quarterly revenue 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 fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared 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 dividend yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s payout ratio is 56.80%.

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.