Keene & Associates Inc. Increases Position in Occidental Petroleum Co. (NYSE:OXY)

Keene & Associates Inc. lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,572 shares of the oil and gas producer’s stock after purchasing an additional 777 shares during the period. Keene & Associates Inc.’s holdings in Occidental Petroleum were worth $540,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Avantax Advisory Services Inc. increased its holdings in shares of Occidental Petroleum by 7.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 20,787 shares of the oil and gas producer’s stock valued at $1,241,000 after acquiring an additional 1,451 shares during the last quarter. Fiera Capital Corp acquired a new stake in Occidental Petroleum during the fourth quarter worth approximately $537,000. Financial Advocates Investment Management lifted its position in shares of Occidental Petroleum by 15.1% during the 4th quarter. Financial Advocates Investment Management now owns 7,975 shares of the oil and gas producer’s stock worth $476,000 after buying an additional 1,047 shares during the last quarter. Kentucky Retirement Systems boosted its holdings in shares of Occidental Petroleum by 1.1% in the 4th quarter. Kentucky Retirement Systems now owns 52,829 shares of the oil and gas producer’s stock valued at $3,154,000 after buying an additional 557 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its position in shares of Occidental Petroleum by 0.8% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 23,523 shares of the oil and gas producer’s stock valued at $1,405,000 after buying an additional 185 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OXY. Truist Financial reduced their price target on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Wolfe Research began coverage on Occidental Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price for the company. Stephens restated an “overweight” rating and set a $76.00 price target on shares of Occidental Petroleum in a research note on Thursday, August 8th. UBS Group boosted their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Scotiabank lowered their target price on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $72.27.

Occidental Petroleum Stock Up 0.1 %

OXY stock opened at $51.05 on Monday. Occidental Petroleum Co. has a one year low of $49.90 and a one year high of $71.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The company has a fifty day moving average of $57.85 and a 200-day moving average of $61.58. The stock has a market capitalization of $46.23 billion, a PE ratio of 13.95 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 EPS. As a group, analysts expect that Occidental Petroleum Co. will post 3.71 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s payout ratio is 24.04%.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by corporate insiders.

About Occidental Petroleum

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.