Ascent Group LLC Trims Stock Position in Occidental Petroleum Corporation $OXY

Ascent Group LLC lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 56.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,358 shares of the oil and gas producer’s stock after selling 6,808 shares during the quarter. Ascent Group LLC’s holdings in Occidental Petroleum were worth $225,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Hahn Capital Management LLC increased its stake in Occidental Petroleum by 55.4% during the 2nd quarter. Hahn Capital Management LLC now owns 181,156 shares of the oil and gas producer’s stock worth $7,610,000 after buying an additional 64,597 shares in the last quarter. Hilltop National Bank purchased a new position in Occidental Petroleum in the second quarter worth approximately $697,000. Mirae Asset Global Investments Co. Ltd. grew its position in Occidental Petroleum by 9.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,904 shares of the oil and gas producer’s stock worth $3,399,000 after acquiring an additional 6,985 shares during the period. Syntax Research Inc. purchased a new position in shares of Occidental Petroleum during the second quarter worth $840,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in shares of Occidental Petroleum by 3.7% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 12,984 shares of the oil and gas producer’s stock worth $545,000 after buying an additional 461 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

OXY stock opened at $45.05 on Thursday. The firm has a 50 day moving average of $45.63 and a 200-day moving average of $43.76. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $55.24. 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 cap of $44.35 billion, a price-to-earnings ratio of 26.66 and a beta of 0.95.

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 (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The firm had revenue of $6.41 billion during 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. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s payout ratio is currently 56.80%.

Analyst Upgrades and Downgrades

OXY has been the subject of several research analyst reports. Piper Sandler raised their price target on Occidental Petroleum from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Mizuho upgraded Occidental Petroleum from a “neutral” rating to an “outperform” rating and raised their price target for the company from $58.00 to $60.00 in a research note on Friday, October 3rd. Hsbc Global Res upgraded Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Melius began coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price on the stock. Finally, HSBC raised Occidental Petroleum from a “hold” rating to a “buy” rating and raised their price target for the stock from $48.00 to $55.00 in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.43.

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.