Hilltop National Bank Acquires New Stake in Occidental Petroleum Corporation $OXY

Hilltop National Bank acquired a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) in the second quarter, HoldingsChannel.com reports. The firm acquired 16,581 shares of the oil and gas producer’s stock, valued at approximately $697,000.

Other hedge funds also recently bought and sold shares of the company. Grove Bank & Trust increased its position in Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 407 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Occidental Petroleum during the first quarter valued at $39,000. Spectrum Wealth Counsel LLC increased its position in Occidental Petroleum by 5,000.0% during the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 1,000 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in Occidental Petroleum in the first quarter worth about $54,000. Finally, Trifecta Capital Advisors LLC increased its position in Occidental Petroleum by 4,393.9% in the first quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 1,450 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Melius Research assumed coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. Roth Capital upped their price target on Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday. Melius assumed coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. UBS Group upped their price target on Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. upped their price target on Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Four investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $53.95.

Occidental Petroleum Stock Performance

NYSE OXY opened at $44.32 on Friday. The firm has a market cap of $43.63 billion, a price-to-earnings ratio of 26.22 and a beta of 0.95. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The business has a 50-day moving average price of $45.62 and a 200-day moving average price of $43.84. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $56.49.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. As a group, equities research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be paid 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 2.2%. Occidental Petroleum’s dividend 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.