KGH Ltd Invests $5.30 Million in Occidental Petroleum Co. (NYSE:OXY)

KGH Ltd acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 84,000 shares of the oil and gas producer’s stock, valued at approximately $5,295,000. Occidental Petroleum accounts for about 0.3% of KGH Ltd’s investment portfolio, making the stock its 25th biggest holding.

A number of other large investors have also bought and sold shares of OXY. Focus Financial Network Inc. ADV acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $255,000. Bank of Nova Scotia increased its holdings in Occidental Petroleum by 45.2% during the 4th quarter. Bank of Nova Scotia now owns 65,639 shares of the oil and gas producer’s stock worth $3,919,000 after purchasing an additional 20,428 shares in the last quarter. KBC Group NV raised its stake in shares of Occidental Petroleum by 14.5% in the 4th quarter. KBC Group NV now owns 181,162 shares of the oil and gas producer’s stock valued at $10,817,000 after purchasing an additional 22,876 shares during the period. CWA Asset Management Group LLC boosted its position in shares of Occidental Petroleum by 27.6% during the fourth quarter. CWA Asset Management Group LLC now owns 11,236 shares of the oil and gas producer’s stock worth $671,000 after buying an additional 2,427 shares during the period. Finally, NEOS Investment Management LLC grew its holdings in shares of Occidental Petroleum by 25.7% during the fourth quarter. NEOS Investment Management LLC now owns 9,372 shares of the oil and gas producer’s stock worth $560,000 after buying an additional 1,914 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Up 1.0 %

OXY opened at $51.54 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a twelve month low of $49.75 and a twelve month high of $71.18. The stock has a market capitalization of $45.70 billion, a price-to-earnings ratio of 14.08 and a beta of 1.58. The company has a 50-day simple moving average of $55.56 and a 200 day simple moving average of $60.83.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts predict that Occidental Petroleum Co. will post 3.57 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the subject of several recent research reports. Susquehanna reduced their target price on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Stephens restated an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a report on Thursday, August 8th. Wolfe Research started coverage on Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 target price on the stock. Evercore ISI decreased their price target on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday. Finally, Mizuho dropped their price objective on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $69.13.

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.