Annandale Capital LLC Grows Stake in Occidental Petroleum Corporation $OXY

Annandale Capital LLC boosted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 160.8% during the 2nd quarter, Holdings Channel reports. The firm owned 40,658 shares of the oil and gas producer’s stock after buying an additional 25,069 shares during the period. Annandale Capital LLC’s holdings in Occidental Petroleum were worth $1,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OXY. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Occidental Petroleum in the second quarter worth $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Occidental Petroleum in the 1st quarter valued at $39,000. Hantz Financial Services Inc. lifted its stake in Occidental Petroleum by 1,193.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 788 shares in the last quarter. MeadowBrook Investment Advisors LLC lifted its stake in Occidental Petroleum by 371.7% in the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 788 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new position in shares of Occidental Petroleum during the 1st quarter valued at about $54,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

NYSE OXY opened at $42.45 on Thursday. The business’s 50 day moving average price is $42.57 and its 200-day moving average price is $43.74. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. The company has a market cap of $41.82 billion, a P/E ratio of 31.21 and a beta of 0.39. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same period last year, the company earned $1.00 earnings per share. Occidental Petroleum’s revenue was down 6.1% on a year-over-year basis. Sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 70.59%.

Analyst Ratings Changes

Several brokerages have recently issued reports on OXY. Evercore ISI reduced their target price on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a report on Friday, October 3rd. Hsbc Global Res raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. UBS Group lowered their target price on Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Susquehanna raised their target price on shares of Occidental Petroleum from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, November 13th. Finally, Melius began coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $50.52.

Occidental Petroleum Profile

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.