Citizens Financial Group Inc. RI Invests $273,000 in Occidental Petroleum Corporation $OXY

Citizens Financial Group Inc. RI purchased a new stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,487 shares of the oil and gas producer's stock, valued at approximately $273,000.

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Several other hedge funds and other institutional investors also recently bought and sold shares of OXY. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Occidental Petroleum during the 2nd quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in Occidental Petroleum during the 1st quarter valued at $39,000. Hantz Financial Services Inc. grew its holdings in Occidental Petroleum by 1,193.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer's stock worth $36,000 after acquiring an additional 788 shares in the last quarter. MeadowBrook Investment Advisors LLC increased its position in shares of Occidental Petroleum by 371.7% in the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer's stock worth $42,000 after purchasing an additional 788 shares during the last quarter. Finally, Spectrum Wealth Counsel LLC raised its stake in shares of Occidental Petroleum by 5,000.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock valued at $50,000 after purchasing an additional 1,000 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Down 2.4%

OXY stock opened at $41.49 on Thursday. The stock has a market cap of $40.88 billion, a PE ratio of 24.55 and a beta of 0.91. The firm's 50-day simple moving average is $43.52 and its 200 day simple moving average is $43.75. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84.

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Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.16. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company had revenue of $6.62 billion for the quarter, compared to analysts' expectations of $6.66 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The business's revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. Occidental Petroleum's dividend payout ratio is presently 70.59%.

Analyst Ratings Changes

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OXY has been the subject of a number of research reports. UBS Group decreased their price target on Occidental Petroleum from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Friday, October 3rd. Citigroup dropped their price target on Occidental Petroleum from $49.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday. Piper Sandler decreased their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set a "neutral" rating for the company in a report on Tuesday. Scotiabank boosted their target price on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company a "sector perform" rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Occidental Petroleum in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $51.24.

Read Our Latest Analysis on OXY

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.

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