Carrera Capital Advisors Invests $2.09 Million in Occidental Petroleum Corporation $OXY

Carrera Capital Advisors acquired a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the third quarter, Holdings Channel.com reports. The fund acquired 44,052 shares of the oil and gas producer’s stock, valued at approximately $2,091,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Moody National Bank Trust Division increased its position in shares of Occidental Petroleum by 1.5% during the third quarter. Moody National Bank Trust Division now owns 15,555 shares of the oil and gas producer’s stock worth $735,000 after acquiring an additional 229 shares in the last quarter. Inspire Investing LLC boosted its position in Occidental Petroleum by 3.8% during the second quarter. Inspire Investing LLC now owns 6,720 shares of the oil and gas producer’s stock valued at $282,000 after buying an additional 247 shares during the period. Inscription Capital LLC grew its stake in shares of Occidental Petroleum by 0.8% in the third quarter. Inscription Capital LLC now owns 32,734 shares of the oil and gas producer’s stock worth $1,547,000 after purchasing an additional 271 shares during the last quarter. Cigna Investments Inc. New grew its holdings in shares of Occidental Petroleum by 4.3% during the 3rd quarter. Cigna Investments Inc. New now owns 6,809 shares of the oil and gas producer’s stock worth $321,000 after acquiring an additional 280 shares during the period. Finally, Greenleaf Trust increased its holdings in shares of Occidental Petroleum by 2.7% during the third quarter. Greenleaf Trust now owns 11,330 shares of the oil and gas producer’s stock valued at $535,000 after acquiring an additional 296 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wolfe Research reduced their price target on shares of Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Occidental Petroleum in a research note on Thursday, January 22nd. UBS Group dropped their price target on Occidental Petroleum from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, December 12th. Jefferies Financial Group cut their price objective on Occidental Petroleum from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 20th. Finally, Citigroup decreased their target price on Occidental Petroleum from $49.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $47.48.

Insider Buying and Selling at Occidental Petroleum

In other news, Director William R. Klesse purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were purchased at an average cost of $38.98 per share, with a total value of $194,900.00. Following the completion of the purchase, the director owned 218,913 shares of the company’s stock, valued at $8,533,228.74. This trade represents a 2.34% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Down 0.1%

Shares of OXY opened at $45.38 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.71. The stock’s 50-day moving average is $41.98 and its two-hundred day moving average is $43.34. The stock has a market cap of $44.71 billion, a PE ratio of 33.37 and a beta of 0.38. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $52.58.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The firm had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 10th were paid a $0.24 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Occidental Petroleum’s dividend payout ratio is 70.59%.

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.