Janney Montgomery Scott LLC Boosts Stake in Occidental Petroleum Co. (NYSE:OXY)

Janney Montgomery Scott LLC raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 15.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 221,970 shares of the oil and gas producer’s stock after acquiring an additional 29,344 shares during the period. Janney Montgomery Scott LLC’s holdings in Occidental Petroleum were worth $11,440,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of Occidental Petroleum in the 1st quarter worth $1,009,000. Mediolanum International Funds Ltd bought a new position in Occidental Petroleum in the first quarter valued at $1,055,000. Avidian Wealth Solutions LLC purchased a new stake in Occidental Petroleum during the first quarter valued at about $206,000. Duality Advisers LP lifted its stake in Occidental Petroleum by 13.7% during the first quarter. Duality Advisers LP now owns 65,279 shares of the oil and gas producer’s stock worth $4,242,000 after purchasing an additional 7,852 shares during the last quarter. Finally, Empirical Finance LLC boosted its holdings in shares of Occidental Petroleum by 2.5% in the 1st quarter. Empirical Finance LLC now owns 34,834 shares of the oil and gas producer’s stock worth $2,264,000 after purchasing an additional 838 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OXY. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Stephens restated an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a report on Thursday, August 8th. UBS Group reduced their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Wells Fargo & Company lowered their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. Finally, Truist Financial reduced their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $65.72.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $51.39 on Thursday. Occidental Petroleum Co. has a fifty-two week low of $49.51 and a fifty-two week high of $71.18. The stock has a market cap of $46.54 billion, a price-to-earnings ratio of 12.66 and a beta of 1.58. The stock’s 50 day simple moving average is $52.44 and its two-hundred day simple moving average is $58.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate 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 was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. As a group, analysts expect that Occidental Petroleum Co. will post 3.29 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.71%. Occidental Petroleum’s dividend payout ratio is presently 21.67%.

Occidental Petroleum Company 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.