Acadian Asset Management LLC Invests $1.28 Million in Occidental Petroleum Corporation $OXY

Acadian Asset Management LLC purchased a new position in Occidental Petroleum Corporation (NYSE:OXY) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,022 shares of the oil and gas producer’s stock, valued at approximately $1,284,000.

Other institutional investors have also added to or reduced their stakes in the company. Northeast Financial Consultants Inc boosted its stake in Occidental Petroleum by 0.4% in the 1st quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer’s stock worth $2,890,000 after purchasing an additional 242 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Occidental Petroleum by 20.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer’s stock worth $81,000 after buying an additional 274 shares in the last quarter. Freestone Capital Holdings LLC lifted its stake in shares of Occidental Petroleum by 4.2% in the first quarter. Freestone Capital Holdings LLC now owns 7,521 shares of the oil and gas producer’s stock worth $371,000 after buying an additional 304 shares in the last quarter. World Investment Advisors lifted its stake in shares of Occidental Petroleum by 6.6% in the first quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer’s stock worth $242,000 after buying an additional 306 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of Occidental Petroleum by 1.0% during the first quarter. Koshinski Asset Management Inc. now owns 32,736 shares of the oil and gas producer’s stock valued at $1,616,000 after purchasing an additional 309 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OXY shares. Scotiabank upped their price target on Occidental Petroleum from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Piper Sandler upped their target price 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. UBS Group upped their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Four investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $54.70.

Occidental Petroleum Stock Down 1.2%

Shares of OXY opened at $47.20 on Thursday. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $46.47 billion, a PE ratio of 27.93 and a beta of 1.04. The business’s 50 day moving average is $45.05 and its 200 day moving average is $43.81. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $56.49.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.29 billion. During the same period in the previous year, the firm posted $1.03 EPS. Occidental Petroleum’s revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

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 paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. Occidental Petroleum’s payout ratio is presently 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.