Jade Capital Advisors LLC Acquires 10,000 Shares of Occidental Petroleum Co. (NYSE:OXY)

Jade Capital Advisors LLC raised its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 50.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,000 shares of the oil and gas producer's stock after buying an additional 10,000 shares during the quarter. Jade Capital Advisors LLC's holdings in Occidental Petroleum were worth $1,546,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in OXY. Investment Research & Advisory Group Inc. increased its position in shares of Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer's stock valued at $25,000 after buying an additional 167 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum during the first quarter worth $44,000. LRI Investments LLC acquired a new stake in shares of Occidental Petroleum during the first quarter worth $44,000. Strategic Financial Concepts LLC bought a new stake in Occidental Petroleum in the 2nd quarter valued at $53,000. Finally, Riverview Trust Co bought a new position in Occidental Petroleum during the 1st quarter worth about $63,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wolfe Research started coverage on Occidental Petroleum in a research note on Thursday, July 18th. They issued an "outperform" rating and a $81.00 target price on the stock. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They set a "neutral" rating and a $55.00 price objective on the stock. StockNews.com cut Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, October 5th. BMO Capital Markets dropped their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating on the stock in a research report on Friday, October 4th. Finally, Evercore ISI decreased their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating on the stock in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, eleven have assigned 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.com, Occidental Petroleum currently has a consensus rating of "Hold" and an average price target of $65.72.

Occidental Petroleum Trading Up 0.5 %

OXY traded up $0.28 during midday trading on Tuesday, reaching $52.10. 7,650,514 shares of the company's stock traded hands, compared to its average volume of 9,143,312. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The firm has a fifty day moving average of $53.83 and a two-hundred day moving average of $59.52. The stock has a market capitalization of $46.19 billion, a price-to-earnings ratio of 14.23 and a beta of 1.57. Occidental Petroleum Co. has a 52 week low of $49.75 and a 52 week high of $71.18.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly 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. The company had revenue of $6.88 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. On average, equities analysts anticipate that Occidental Petroleum Co. will post 3.48 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th were paid a $0.22 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. Occidental Petroleum's dividend payout ratio is presently 24.04%.

Insider Activity 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 dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company's stock, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by insiders.

About Occidental Petroleum

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.