Dudley Capital Management LLC Raises Holdings in Occidental Petroleum Co. (NYSE:OXY)

Dudley Capital Management LLC boosted its position in Occidental Petroleum Co. (NYSE:OXY) by 14.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,000 shares of the oil and gas producer’s stock after purchasing an additional 500 shares during the quarter. Dudley Capital Management LLC’s holdings in Occidental Petroleum were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Stephens Inc. AR boosted its holdings in shares of Occidental Petroleum by 221.0% during the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after purchasing an additional 10,382 shares during the last quarter. Czech National Bank grew its holdings in Occidental Petroleum by 8.3% in the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after purchasing an additional 10,456 shares during the period. Discovery Capital Management LLC CT acquired a new position in Occidental Petroleum during the second quarter worth approximately $10,331,000. Murphy Pohlad Asset Management LLC purchased a new position in Occidental Petroleum during the third quarter worth approximately $593,000. Finally, Empyrean Capital Partners LP acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at $2,975,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

OXY stock opened at $51.21 on Friday. The stock’s 50 day moving average is $52.44 and its two-hundred day moving average is $58.25. Occidental Petroleum Co. has a 52-week low of $49.51 and a 52-week high of $71.18. The company has a market capitalization of $46.38 billion, a PE ratio of 12.61 and a beta of 1.58. 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 (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Analysts predict that Occidental Petroleum Co. will post 3.29 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.72%. Occidental Petroleum’s dividend payout ratio (DPR) is 21.67%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.48% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OXY. BMO Capital Markets dropped their price objective on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 4th. Barclays cut their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group began coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price for the company. UBS Group cut their price target on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Bank of America began coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective for the company. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $65.72.

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.