Occidental Petroleum Corporation $OXY Stock Bought by Lido Advisors LLC

Lido Advisors LLC lifted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 13.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,471 shares of the oil and gas producer’s stock after acquiring an additional 10,887 shares during the quarter. Lido Advisors LLC’s holdings in Occidental Petroleum were worth $5,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Axiom Investment Management LLC bought a new stake in Occidental Petroleum in the first quarter valued at approximately $25,000. GKV Capital Management Co. Inc. bought a new position in Occidental Petroleum during the 1st quarter worth approximately $26,000. William Mack & Associates Inc. bought a new position in Occidental Petroleum during the 3rd quarter worth approximately $27,000. Hara Capital LLC bought a new position in Occidental Petroleum during the 2nd quarter worth approximately $25,000. Finally, Ballast Advisors LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter worth approximately $39,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Wells Fargo & Company dropped their target price on shares of Occidental Petroleum from $82.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday. Stephens upped their price target on shares of Occidental Petroleum from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, October 19th. The Goldman Sachs Group upped their price target on shares of Occidental Petroleum from $69.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, October 27th. Finally, Weiss Ratings upgraded Occidental Petroleum from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $67.62.

Trending Headlines about Occidental Petroleum

Here are a few of the latest headlines about OXY:

• Positive Sentiment: OXY beat third-quarter earnings expectations, supported by higher oil prices and strong midstream results, and exceeded production guidance. The company reported robust cash flow and repaid $1.8 billion of debt during the quarter. Occidental Petroleum Q3 Earnings Beat Estimates on Strong Oil Prices
• Neutral Sentiment: Wells Fargo cut its price target to $76 from $82 but maintained an Overweight rating. The lower target tempers the outlook, while the retained rating remains positive. Wells Fargo stock recommendations
• Negative Sentiment: OXY remains exposed to oil-price swings, which could weaken cash flow if crude prices fall. A Trefis article also considers a potential 30% downside scenario, underscoring valuation risk. Can Occidental Petroleum Stock Fall 30?

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $58.39 on Friday. The company has a market cap of $58.39 billion, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of 0.65 and a beta of 0.16. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a quick ratio of 1.13, a current ratio of 1.38 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $59.79 and a 200-day moving average of $56.56.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Monday, November 9th. The oil and gas producer reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.45. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.82 billion. Occidental Petroleum had a net margin of 32.17% and a return on equity of 18.55%. Occidental Petroleum’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 EPS. On average, equities analysts forecast that Occidental Petroleum Corporation will post 6.95 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 10th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, December 10th. Occidental Petroleum’s payout ratio is 15.09%.

Occidental Petroleum Profile

Occidental Petroleum Corporation is an energy and chemicals company headquartered in Houston, Texas. Its oil and gas business explores for and produces crude oil, natural gas liquids and natural gas, with operations in the United States and international markets, including the Middle East and North Africa. Through its OxyChem business, Occidental manufactures and markets basic chemicals and vinyl products used in applications such as water treatment, construction and consumer goods. The company also develops carbon management and lower-carbon technology projects, including carbon capture and storage.