Northstar Group Inc. Lowers Stake in Occidental Petroleum Corporation $OXY

Northstar Group Inc. reduced its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 10.6% in the second quarter, HoldingsChannel reports. The fund owned 9,448 shares of the oil and gas producer’s stock after selling 1,121 shares during the period. Northstar Group Inc.’s holdings in Occidental Petroleum were worth $397,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of OXY. Grove Bank & Trust lifted its position in Occidental Petroleum by 129.2% during the 1st 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 period. Caitong International Asset Management Co. Ltd purchased a new position in Occidental Petroleum during the 1st quarter valued at about $39,000. Spectrum Wealth Counsel LLC raised its holdings 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 worth $50,000 after buying an additional 1,000 shares during the last quarter. Ransom Advisory Ltd purchased a new position in Occidental Petroleum in the first quarter worth about $54,000. Finally, Trifecta Capital Advisors LLC raised its holdings 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 during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Up 1.0%

OXY opened at $47.75 on Thursday. 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 firm has a 50 day moving average price of $45.63 and a 200-day moving average price of $43.86. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $56.49. The stock has a market capitalization of $47.00 billion, a price-to-earnings ratio of 28.25 and a beta of 0.95.

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, beating the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. Equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be given a $0.24 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.0%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 56.80%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on OXY shares. Mizuho decreased their target price on shares of Occidental Petroleum from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Scotiabank lifted their target price on shares of Occidental Petroleum from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. JPMorgan Chase & Co. lifted their target price on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Melius Research started coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 target price for the company. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $54.32.

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.