Occidental Petroleum Corporation $OXY Shares Bought by Lido Advisors LLC

Lido Advisors LLC lifted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 291.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,863 shares of the oil and gas producer’s stock after acquiring an additional 55,760 shares during the period. Lido Advisors LLC’s holdings in Occidental Petroleum were worth $4,884,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. First Trust Advisors LP grew its holdings in Occidental Petroleum by 41.0% in the first quarter. First Trust Advisors LP now owns 1,636,367 shares of the oil and gas producer’s stock valued at $106,364,000 after purchasing an additional 475,466 shares during the period. Westpac Banking Corp acquired a new position in Occidental Petroleum during the first quarter worth approximately $252,000. Oslo Pensjonsforsikring AS purchased a new position in Occidental Petroleum during the first quarter worth approximately $109,000. Baader Bank Aktiengesellschaft raised its stake in Occidental Petroleum by 22.2% during the first quarter. Baader Bank Aktiengesellschaft now owns 20,745 shares of the oil and gas producer’s stock worth $1,231,000 after purchasing an additional 3,763 shares during the period. Finally, Amova Asset Management Americas Inc. boosted its holdings in shares of Occidental Petroleum by 20.8% in the 1st quarter. Amova Asset Management Americas Inc. now owns 21,093 shares of the oil and gas producer’s stock valued at $1,370,000 after purchasing an additional 3,630 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Richard A. Jackson acquired 4,770 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the acquisition, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This represents a 1.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on OXY shares. Mizuho upped their price objective on Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Morgan Stanley reduced their target price on Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 26th. Capital One Financial boosted their price target on Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Barclays upgraded Occidental Petroleum from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $59.00 to $72.00 in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. cut their price objective on Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $64.17.

Occidental Petroleum Stock Down 0.5%

NYSE OXY opened at $57.32 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The business has a 50 day moving average price of $54.81 and a two-hundred day moving average price of $53.50. The stock has a market cap of $57.02 billion, a PE ratio of 14.44 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the firm posted $0.14 earnings per share. The business’s quarterly revenue was down 8.3% on a year-over-year basis. As a group, sell-side analysts predict that Occidental Petroleum Corporation will post 5.66 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.04 annualized dividend and a yield of 1.8%. Occidental Petroleum’s payout ratio is 26.20%.

Occidental Petroleum Profile

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.