Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI grew its position in Occidental Petroleum Co. (NYSE:OXY) by 18.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,029 shares of the oil and gas producer’s stock after purchasing an additional 784 shares during the period. Citizens Financial Group Inc. RI’s holdings in Occidental Petroleum were worth $317,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Investment Research & Advisory Group Inc. raised its position in Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 167 shares during the last quarter. LifeSteps Financial Inc. purchased a new position in shares of Occidental Petroleum during the first quarter worth $34,000. Able Wealth Management LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at $38,000. New Covenant Trust Company N.A. acquired a new stake in Occidental Petroleum during the 1st quarter worth about $44,000. Finally, LRI Investments LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at about $44,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by insiders.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $51.77 on Thursday. Occidental Petroleum Co. has a twelve month low of $49.90 and a twelve month high of $71.18. The company has a market cap of $46.88 billion, a P/E ratio of 14.14 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $57.29 and its 200-day moving average price is $61.38.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that Occidental Petroleum Co. will post 3.71 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s payout ratio is currently 24.04%.

Analysts Set New Price Targets

OXY has been the topic of several analyst reports. Scotiabank dropped their target price on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. UBS Group decreased their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research note on Wednesday. Susquehanna dropped their price target on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company decreased their price objective on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Finally, Citigroup dropped their target price on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $71.60.

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.