9,276 Shares in Occidental Petroleum Corporation $OXY Purchased by PCM Encore LLC

PCM Encore LLC acquired a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 9,276 shares of the oil and gas producer’s stock, valued at approximately $451,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of OXY. Axiom Investment Management LLC bought a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $25,000. GKV Capital Management Co. Inc. bought a new position in Occidental Petroleum in the 1st quarter worth approximately $26,000. Portus Wealth Advisors LLC acquired a new stake in Occidental Petroleum in the 1st quarter valued at approximately $29,000. Caitlin John LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at approximately $29,000. Finally, Activest Wealth Management raised its stake in Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 305 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group decreased their price target on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Morgan Stanley cut their price objective on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 26th. Evercore raised shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Wednesday, July 8th. JPMorgan Chase & Co. lowered their target price on shares of Occidental Petroleum from $64.00 to $63.00 in a research note on Thursday, May 7th. Finally, Citigroup dropped their price target on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, July 17th. Ten research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.83.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson acquired 4,770 shares of Occidental Petroleum stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the transaction, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.

Occidental Petroleum Stock Up 2.3%

OXY opened at $61.48 on Friday. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The stock’s fifty day moving average is $54.46 and its 200-day moving average is $55.43. The company has a market capitalization of $61.46 billion, a PE ratio of 9.52, a P/E/G ratio of 0.81 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.57. The business had revenue of $8.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The company’s quarterly revenue was up 53.4% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. On average, equities analysts predict that Occidental Petroleum Corporation will post 5.81 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s dividend payout ratio is currently 16.10%.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.