PKO Investment Management Joint Stock Co Lowers Stock Position in Occidental Petroleum Corporation $OXY

PKO Investment Management Joint Stock Co cut its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,050 shares of the oil and gas producer’s stock after selling 1,100 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Occidental Petroleum were worth $968,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in OXY. Vanguard Group Inc. lifted its holdings in Occidental Petroleum by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock worth $3,960,202,000 after purchasing an additional 12,107,285 shares in the last quarter. Nuveen LLC bought a new stake in Occidental Petroleum in the 1st quarter worth approximately $99,853,000. Dimensional Fund Advisors LP increased its stake in Occidental Petroleum by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock worth $401,162,000 after acquiring an additional 710,220 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Occidental Petroleum by 926.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock worth $38,381,000 after acquiring an additional 701,846 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Occidental Petroleum in the 2nd quarter worth approximately $28,584,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Down 0.6%

Shares of NYSE:OXY opened at $42.60 on Friday. The firm has a market capitalization of $41.94 billion, a P/E ratio of 25.21 and a beta of 0.95. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20. The business’s 50-day moving average is $45.21 and its 200 day moving average is $43.44. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.Occidental Petroleum’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. On average, research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th were issued 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 56.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Occidental Petroleum in a research report on Wednesday, October 8th. Morgan Stanley reissued an “equal weight” rating and set a $52.00 target price on shares of Occidental Petroleum in a research report on Monday, August 18th. JPMorgan Chase & Co. boosted their target price on Occidental Petroleum from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Hsbc Global Res upgraded Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Finally, Piper Sandler dropped their price objective on Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $52.26.

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.