Ieq Capital LLC Acquires New Holdings in Occidental Petroleum Corporation $OXY

Ieq Capital LLC bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) in the second quarter, Holdings Channel.com reports. The firm bought 324,718 shares of the oil and gas producer’s stock, valued at approximately $15,772,000.

Other large investors also recently made changes to their positions in the company. Callan Family Office LLC acquired a new position in shares of Occidental Petroleum during the second quarter worth approximately $8,458,000. OneAscent Financial Services LLC acquired a new stake in Occidental Petroleum in the 2nd quarter valued at approximately $230,000. B. Metzler seel. Sohn & Co. AG bought a new stake in Occidental Petroleum during the 2nd quarter valued at $782,000. Kayne Anderson Capital Advisors LP bought a new stake in Occidental Petroleum during the 2nd quarter valued at $16,852,000. Finally, Silvant Capital Management LLC acquired a new position in Occidental Petroleum during the 2nd quarter worth $92,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.3%

NYSE OXY opened at $61.34 on Friday. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a market capitalization of $61.32 billion, a P/E ratio of 9.50, a PEG ratio of 0.79 and a beta of 0.15. The company’s 50 day simple moving average is $54.56 and its 200 day simple moving average is $55.47. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13.

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

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s dividend payout ratio is 16.10%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Truist Financial raised their price target on Occidental Petroleum from $57.00 to $63.00 and gave the company a “hold” rating in a report on Monday, August 10th. Wells Fargo & Company upped their price objective on shares of Occidental Petroleum from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Citigroup decreased their target price on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Mizuho raised their target price on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, Susquehanna boosted their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $64.83.

Insider Activity

In related news, CEO Richard A. Jackson bought 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by insiders.

Occidental Petroleum Company 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.