International Assets Investment Management LLC Reduces Stock Position in Occidental Petroleum Corporation $OXY

International Assets Investment Management LLC lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 36.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,297 shares of the oil and gas producer’s stock after selling 34,468 shares during the quarter. International Assets Investment Management LLC’s holdings in Occidental Petroleum were worth $2,533,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Occidental Petroleum in the first quarter valued at $39,000. Spectrum Wealth Counsel LLC boosted its stake in Occidental Petroleum by 5,000.0% in 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 in the last quarter. Ransom Advisory Ltd acquired a new position in Occidental Petroleum in the first quarter valued at $54,000. Quarry LP boosted its stake in Occidental Petroleum by 69.7% in the first quarter. Quarry LP now owns 1,675 shares of the oil and gas producer’s stock valued at $83,000 after acquiring an additional 688 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Occidental Petroleum in the first quarter valued at $95,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $40.91 on Friday. 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 company has a market cap of $40.28 billion, a P/E ratio of 24.21 and a beta of 0.95. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20. The company has a 50-day moving average price of $45.46 and a 200 day moving average price of $43.39.

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

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th were given a $0.24 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 56.80%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on OXY shares. JPMorgan Chase & Co. upped their price objective on shares of Occidental Petroleum from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Scotiabank upped their price objective on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. UBS Group decreased their price objective on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. Piper Sandler increased their target price on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Wells Fargo & Company assumed coverage on shares of Occidental Petroleum in a research note on Friday. They set an “underweight” rating and a $42.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $52.43.

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.