Moors & Cabot Inc. Boosts Position in Occidental Petroleum Corporation $OXY

Moors & Cabot Inc. lifted its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,642 shares of the oil and gas producer’s stock after purchasing an additional 1,295 shares during the period. Moors & Cabot Inc.’s holdings in Occidental Petroleum were worth $1,245,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Occidental Petroleum by 17.8% during the first 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 during the last quarter. Nuveen LLC acquired a new stake in shares of Occidental Petroleum during the 1st quarter valued at approximately $99,853,000. Dimensional Fund Advisors LP grew its holdings in Occidental Petroleum by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock valued at $401,162,000 after purchasing an additional 710,220 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Occidental Petroleum by 926.9% during the first 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 purchased a new stake in Occidental Petroleum in the 2nd quarter valued at approximately $28,584,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on OXY. Evercore ISI lowered their target price on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research note on Friday, October 3rd. Melius started coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price on the stock. Roth Capital upped their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Bank of America raised their price target on shares of Occidental Petroleum from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Finally, Melius Research began coverage on Occidental Petroleum in a research note on Wednesday, August 20th. They set a “hold” rating and a $64.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $52.26.

Occidental Petroleum Stock Up 1.4%

OXY stock opened at $40.29 on Friday. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $53.20. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The firm has a market capitalization of $39.66 billion, a P/E ratio of 23.84 and a beta of 0.91. The company’s 50 day simple moving average is $44.35 and its 200-day simple moving average is $43.61.

Occidental Petroleum (NYSE:OXY) last released its 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 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 company’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 EPS. As a group, equities research analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s payout ratio is currently 56.80%.

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.