Bailard Inc. Raises Stock Holdings in Occidental Petroleum Corporation $OXY

Bailard Inc. boosted its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 39.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,817 shares of the oil and gas producer’s stock after buying an additional 1,931 shares during the quarter. Bailard Inc.’s holdings in Occidental Petroleum were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Occidental Petroleum during the second quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Occidental Petroleum in the first quarter worth about $39,000. Hantz Financial Services Inc. increased its holdings in Occidental Petroleum by 1,193.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 788 shares during the period. MeadowBrook Investment Advisors LLC raised its position in Occidental Petroleum by 371.7% during the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 788 shares during the last quarter. Finally, Spectrum Wealth Counsel LLC lifted its holdings in Occidental Petroleum by 5,000.0% in 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 during the period. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

OXY stock opened at $42.75 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The firm has a 50 day moving average price of $43.74 and a 200-day moving average price of $43.72. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $53.20. The firm has a market capitalization of $42.12 billion, a price-to-earnings ratio of 25.29 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same quarter last year, the company earned $1.00 EPS. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is 70.59%.

Analyst Upgrades and Downgrades

OXY has been the topic of several research analyst reports. Scotiabank boosted their target price on Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Bank of America upped their price objective on shares of Occidental Petroleum from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Wall Street Zen lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Hsbc Global Res upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Finally, Wells Fargo & Company reduced their target price on Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $51.24.

About Occidental Petroleum

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.