Occidental Petroleum Corporation $OXY Shares Newly Bought by Vista Investment Partners LLC

Vista Investment Partners LLC acquired a new stake in Occidental Petroleum Corporation (NYSE:OXY) in the 3rd quarter, HoldingsChannel reports. The fund acquired 9,618 shares of the oil and gas producer’s stock, valued at approximately $532,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OXY. Axiom Investment Management LLC acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth approximately $25,000. Hara Capital LLC purchased a new stake in Occidental Petroleum during the second quarter worth $25,000. GKV Capital Management Co. Inc. acquired a new stake in Occidental Petroleum during the first quarter valued at $26,000. Portus Wealth Advisors LLC purchased a new position in Occidental Petroleum in the first quarter valued at $29,000. Finally, Fiduciary Financial Advisors acquired a new position in shares of Occidental Petroleum in the second quarter worth about $31,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OXY shares. Morgan Stanley dropped their target price on Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, June 26th. The Goldman Sachs Group upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating and increased their price target for the stock from $63.00 to $69.00 in a research report on Thursday, October 1st. Wells Fargo & Company raised their price objective on Occidental Petroleum from $79.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, September 14th. Zacks Research downgraded Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Barclays decreased their target price on Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Eleven investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $65.54.

Occidental Petroleum Price Performance

OXY stock traded up $1.76 during trading on Thursday, hitting $59.98. The stock had a trading volume of 5,938,826 shares, compared to its average volume of 12,166,368. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45. The stock has a market capitalization of $59.95 billion, a P/E ratio of 9.28, a PEG ratio of 0.91 and a beta of 0.24. The company’s 50-day moving average price is $58.64 and its two-hundred day moving average price is $57.31.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57. The business had revenue of $8.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The business’s revenue was up 53.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. As a group, research analysts predict that Occidental Petroleum Corporation will post 6.2 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Thursday, September 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s payout ratio is 17.34%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, commonly known as Oxy, is an energy company engaged in the exploration, development and production of oil and natural gas. Its upstream operations are concentrated in the United States, including the Permian and Denver-Julesburg basins, and in selected international regions such as the Middle East and North Africa.

The company also operates midstream and marketing businesses that support the gathering, processing, transportation and sale of oil, natural gas and natural gas liquids.