Ieq Capital LLC Has $1.94 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Ieq Capital LLC lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY – Get Rating) by 102.2% during the third quarter, Holdings Channel.com reports. The firm owned 31,636 shares of the oil and gas producer’s stock after acquiring an additional 15,992 shares during the quarter. Ieq Capital LLC’s holdings in Occidental Petroleum were worth $1,944,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OXY. Ironwood Wealth Management LLC. bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at about $334,000. Cibc World Market Inc. lifted its stake in shares of Occidental Petroleum by 47.2% in the first quarter. Cibc World Market Inc. now owns 55,697 shares of the oil and gas producer’s stock worth $3,160,000 after acquiring an additional 17,859 shares during the period. Prudential PLC bought a new stake in Occidental Petroleum in the first quarter valued at approximately $1,124,000. Sequoia Financial Advisors LLC acquired a new stake in Occidental Petroleum during the 1st quarter valued at approximately $313,000. Finally, Candriam Luxembourg S.C.A. raised its holdings in Occidental Petroleum by 12.4% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 54,540 shares of the oil and gas producer’s stock worth $3,094,000 after purchasing an additional 6,018 shares during the last quarter. Institutional investors own 78.45% of the company’s stock.

Occidental Petroleum Stock Down 0.6 %

Shares of NYSE OXY opened at $66.50 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.10 and a quick ratio of 0.86. Occidental Petroleum Co. has a 1 year low of $31.37 and a 1 year high of $77.13. The stock has a market capitalization of $60.44 billion, a P/E ratio of 5.54, a P/E/G ratio of 0.41 and a beta of 1.77. The company has a 50-day moving average price of $65.68 and a 200-day moving average price of $66.05.

Occidental Petroleum (NYSE:OXY – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The oil and gas producer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.04). The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.35 billion. Occidental Petroleum had a net margin of 35.11% and a return on equity of 59.90%. On average, equities research analysts forecast that Occidental Petroleum Co. will post 9.63 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 12th. Shareholders of record on Monday, December 12th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, December 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.78%. Occidental Petroleum’s dividend payout ratio is presently 4.33%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Occidental Petroleum from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, November 17th. Bank of America raised Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Friday, January 6th. Piper Sandler lowered their target price on Occidental Petroleum from $76.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, December 19th. Morgan Stanley increased their price target on Occidental Petroleum from $73.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 14th. Finally, StockNews.com assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $76.94.

Occidental Petroleum Profile

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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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.