GQG Partners LLC bought a new position in Occidental Petroleum Co. (NYSE:OXY) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 17,510,503 shares of the oil and gas producer’s stock, valued at approximately $547,397,000. Occidental Petroleum comprises approximately 1.6% of GQG Partners LLC’s portfolio, making the stock its 24th biggest position. GQG Partners LLC owned about 1.88% of Occidental Petroleum as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of OXY. Red Door Wealth Management LLC acquired a new stake in shares of Occidental Petroleum in the 2nd quarter worth $26,000. Cypress Capital Management LLC WY acquired a new stake in shares of Occidental Petroleum in the 2nd quarter worth $30,000. Arkadios Wealth Advisors increased its stake in shares of Occidental Petroleum by 194.0% in the 2nd quarter. Arkadios Wealth Advisors now owns 1,035 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 683 shares during the last quarter. Solstein Capital LLC acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth about $40,000. Finally, Corsicana & Co. acquired a new stake in shares of Occidental Petroleum during the 2nd quarter worth about $64,000. 68.71% of the stock is owned by institutional investors and hedge funds.
OXY has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Occidental Petroleum from $29.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Thursday. Truist Securities raised their price objective on Occidental Petroleum from $27.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, October 7th. Mizuho raised their price objective on Occidental Petroleum from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, July 15th. Citigroup assumed coverage on Occidental Petroleum in a research report on Monday, August 30th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Piper Sandler raised their target price on Occidental Petroleum from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, July 23rd. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.04.
Shares of OXY traded down $0.37 during midday trading on Thursday, hitting $31.91. The company had a trading volume of 437,518 shares, compared to its average volume of 18,423,094. The company’s 50-day simple moving average is $27.17 and its 200-day simple moving average is $27.16. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.15 and a current ratio of 1.34. The firm has a market capitalization of $29.80 billion, a P/E ratio of -5.42, a P/E/G ratio of 0.52 and a beta of 2.46. Occidental Petroleum Co. has a 1 year low of $8.52 and a 1 year high of $34.57.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Monday, August 2nd. The oil and gas producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.49. Occidental Petroleum had a negative return on equity of 10.45% and a negative net margin of 26.10%. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter last year, the business posted ($1.76) EPS. Equities analysts predict that Occidental Petroleum Co. will post 0.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, September 10th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Thursday, September 9th. Occidental Petroleum’s dividend payout ratio (DPR) is presently -1.02%.
Occidental Petroleum Company Profile
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.
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