Gordian Capital Singapore Pte Ltd Increases Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Gordian Capital Singapore Pte Ltd increased its position in Occidental Petroleum Co. (NYSE:OXY) by 300,000.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,002 shares of the oil and gas producer’s stock after purchasing an additional 6,000 shares during the quarter. Gordian Capital Singapore Pte Ltd’s holdings in Occidental Petroleum were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in OXY. Strategic Investment Solutions Inc. IL bought a new position in Occidental Petroleum during the 2nd quarter valued at $110,000. KGH Ltd bought a new position in Occidental Petroleum during the 2nd quarter valued at $5,295,000. William B. Walkup & Associates Inc. bought a new position in Occidental Petroleum during the 2nd quarter valued at $145,000. Magnolia Capital Advisors LLC acquired a new stake in shares of Occidental Petroleum during the second quarter worth $1,939,000. Finally, Copperwynd Financial LLC acquired a new stake in shares of Occidental Petroleum during the second quarter worth $262,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OXY has been the topic of a number of research reports. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, September 27th. Evercore ISI dropped their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday. Susquehanna dropped their target price on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Scotiabank dropped their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Finally, Truist Financial dropped their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $69.13.

Occidental Petroleum Stock Up 3.3 %

Occidental Petroleum stock opened at $53.25 on Wednesday. The stock has a market cap of $47.21 billion, a price-to-earnings ratio of 14.55 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $55.42 and its two-hundred day moving average price is $60.77. Occidental Petroleum Co. has a 52 week low of $49.75 and a 52 week high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The company had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts expect that Occidental Petroleum Co. will post 3.57 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Occidental Petroleum 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.