Ballentine Partners LLC Has $340,000 Stock Position in Occidental Petroleum Corporation $OXY

Ballentine Partners LLC raised its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 88.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,089 shares of the oil and gas producer’s stock after purchasing an additional 3,806 shares during the period. Ballentine Partners LLC’s holdings in Occidental Petroleum were worth $340,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Occidental Petroleum during the first quarter valued at approximately $1,274,000. Kestra Private Wealth Services LLC raised its position in Occidental Petroleum by 5.6% during the first quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock valued at $843,000 after purchasing an additional 906 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Occidental Petroleum by 9.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock valued at $78,813,000 after purchasing an additional 140,528 shares in the last quarter. swisspartners Advisors Ltd acquired a new position in shares of Occidental Petroleum during the first quarter worth $6,006,000. Finally, Blackhawk Capital Partners LLC. acquired a new position in shares of Occidental Petroleum during the first quarter worth $344,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $47.46 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $56.49. The stock has a market cap of $46.72 billion, a price-to-earnings ratio of 28.08 and a beta of 1.04. The company’s fifty day moving average is $45.39 and its 200 day moving average is $43.80.

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 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 analysts’ expectations of $6.29 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Occidental Petroleum’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company 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 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 dividend payout ratio is 56.80%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OXY. Melius Research began coverage on shares of 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 reiterated an “equal weight” rating and set a $52.00 price target on shares of Occidental Petroleum in a report on Monday, August 18th. Melius began coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target for the company. Mizuho lowered their price target on shares of Occidental Petroleum from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum presently 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.