Odyssean LLC Buys Shares of 14,036 Occidental Petroleum Corporation $OXY

Odyssean LLC acquired a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,036 shares of the oil and gas producer’s stock, valued at approximately $682,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. National Pension Service boosted its holdings in Occidental Petroleum by 13.0% during the fourth quarter. National Pension Service now owns 1,084,356 shares of the oil and gas producer’s stock worth $44,589,000 after purchasing an additional 124,879 shares during the last quarter. Hosking Partners LLP lifted its position in shares of Occidental Petroleum by 4.9% during the 4th quarter. Hosking Partners LLP now owns 577,368 shares of the oil and gas producer’s stock worth $23,741,000 after buying an additional 27,030 shares in the last quarter. Swiss National Bank boosted its stake in shares of Occidental Petroleum by 7.2% in the 1st quarter. Swiss National Bank now owns 2,168,414 shares of the oil and gas producer’s stock worth $140,947,000 after buying an additional 145,100 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Occidental Petroleum by 4.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,685,169 shares of the oil and gas producer’s stock valued at $109,536,000 after acquiring an additional 66,438 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in Occidental Petroleum by 290.0% during the fourth quarter. Bleakley Financial Group LLC now owns 61,392 shares of the oil and gas producer’s stock worth $2,524,000 after acquiring an additional 45,652 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $58.69 on Thursday. The stock has a market cap of $58.67 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.93 and a beta of 0.15. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week 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 has a fifty day moving average of $54.88 and a 200-day moving average of $55.84.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The business had revenue of $8.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up 53.4% on a year-over-year basis. Equities research analysts anticipate that Occidental Petroleum Corporation will post 6.09 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be paid a dividend of $0.28 per share. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, September 10th. Occidental Petroleum’s dividend payout ratio is presently 16.10%.

Insiders Place Their Bets

In other news, CEO Richard A. Jackson bought 4,770 shares of the stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the purchase, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Morgan Stanley lowered their target price on 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. Weiss Ratings upgraded shares of Occidental Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. UBS Group dropped their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Wells Fargo & Company increased their target price on shares of Occidental Petroleum from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Ten research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.83.

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.