Inspire Investing LLC Acquires 1,162 Shares of Occidental Petroleum Corporation $OXY

Inspire Investing LLC increased its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 21.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,473 shares of the oil and gas producer’s stock after purchasing an additional 1,162 shares during the period. Inspire Investing LLC’s holdings in Occidental Petroleum were worth $320,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of OXY. Northeast Financial Consultants Inc raised its position in shares of 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 acquiring an additional 242 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Occidental Petroleum by 20.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer’s stock valued at $81,000 after buying an additional 274 shares in the last quarter. Freestone Capital Holdings LLC grew its position in shares of Occidental Petroleum by 4.2% in the 1st 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 during the last quarter. World Investment Advisors increased its position in shares of Occidental Petroleum by 6.6% during the first quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer’s stock worth $242,000 after purchasing an additional 306 shares in the last quarter. Finally, Koshinski Asset Management Inc. boosted its position in shares of Occidental Petroleum by 1.0% in the 1st quarter. Koshinski Asset Management Inc. now owns 32,736 shares of the oil and gas producer’s stock worth $1,616,000 after purchasing an additional 309 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $47.20 on Thursday. 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 $45.05 and its 200-day simple moving average is $43.81. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $56.49. The stock has a market capitalization of $46.47 billion, a price-to-earnings ratio of 27.93 and a beta of 1.04.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter last year, the business earned $1.03 earnings per share. The firm’s revenue was down 6.1% on a year-over-year basis. Analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm 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 dividend of $0.24 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. Occidental Petroleum’s dividend payout ratio is currently 56.80%.

Analysts Set New Price Targets

OXY has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on 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. Scotiabank boosted their target price on shares of Occidental Petroleum from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Friday, July 11th. Melius Research started coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Finally, Wall Street Zen lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.70.

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.