Capital Investment Counsel Inc Increases Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Capital Investment Counsel Inc boosted its stake in Occidental Petroleum Co. (NYSE:OXY) by 910.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,613 shares of the oil and gas producer’s stock after purchasing an additional 34,793 shares during the quarter. Capital Investment Counsel Inc’s holdings in Occidental Petroleum were worth $1,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Nachman Norwood & Parrott Inc raised its stake in shares of Occidental Petroleum by 0.6% during the first quarter. Nachman Norwood & Parrott Inc now owns 25,427 shares of the oil and gas producer’s stock worth $1,683,000 after acquiring an additional 160 shares in the last quarter. Essex Savings Bank raised its stake in shares of Occidental Petroleum by 16.8% during the first quarter. Essex Savings Bank now owns 1,216 shares of the oil and gas producer’s stock worth $80,000 after acquiring an additional 175 shares in the last quarter. OLD Second National Bank of Aurora raised its stake in shares of Occidental Petroleum by 0.3% during the first quarter. OLD Second National Bank of Aurora now owns 54,908 shares of the oil and gas producer’s stock worth $3,635,000 after acquiring an additional 178 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Occidental Petroleum by 1.1% during the first quarter. Wetherby Asset Management Inc. now owns 16,215 shares of the oil and gas producer’s stock worth $1,074,000 after acquiring an additional 182 shares in the last quarter. Finally, ACG Wealth raised its stake in shares of Occidental Petroleum by 5.3% during the first quarter. ACG Wealth now owns 3,916 shares of the oil and gas producer’s stock worth $259,000 after acquiring an additional 198 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

OXY has been the topic of several research reports. Morgan Stanley decreased their price target on shares of Occidental Petroleum from $55.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Co downgraded shares of Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research note on Monday, May 20th. Atlantic Securities downgraded shares of Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 price target on the stock. in a research note on Thursday, April 25th. Argus downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and set a $54.61 price target on the stock. in a research note on Thursday, May 16th. Finally, Jefferies Financial Group downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their price target for the stock from $74.00 to $66.00 in a research note on Monday, April 29th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $74.30.

In related news, insider Vicki A. Hollub purchased 37,460 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average price of $48.15 per share, for a total transaction of $1,803,699.00. Following the completion of the acquisition, the insider now directly owns 248,326 shares in the company, valued at approximately $11,956,896.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Cedric W. Burgher purchased 4,100 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average price of $49.61 per share, for a total transaction of $203,401.00. Following the acquisition, the chief financial officer now owns 76,842 shares of the company’s stock, valued at $3,812,131.62. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 95,660 shares of company stock worth $4,647,151. 0.15% of the stock is currently owned by company insiders.

Shares of Occidental Petroleum stock opened at $46.79 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.20 and a quick ratio of 1.00. Occidental Petroleum Co. has a 52-week low of $46.76 and a 52-week high of $83.35. The company has a market capitalization of $38.30 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 3.00 and a beta of 0.82. The business has a 50 day moving average price of $50.70.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter last year, the business earned $1.10 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Analysts forecast that Occidental Petroleum Co. will post 3.47 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a $0.79 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, September 9th. This represents a $3.16 annualized dividend and a dividend yield of 6.75%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 62.28%.

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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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