Alliance Wealth Advisors LLC UT Takes Position in Occidental Petroleum Co. (NYSE:OXY)

Alliance Wealth Advisors LLC UT bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,402 shares of the oil and gas producer’s stock, valued at approximately $203,000.

A number of other hedge funds also recently made changes to their positions in the business. Oppenheimer & Co. Inc. grew its holdings in Occidental Petroleum by 8.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock valued at $10,139,000 after buying an additional 12,349 shares in the last quarter. SeaCrest Wealth Management LLC lifted its stake in Occidental Petroleum by 8.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock worth $343,000 after purchasing an additional 474 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at $29,665,000. Cullen Investment Group LTD. purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at $1,006,000. Finally, Koshinski Asset Management Inc. raised its stake in Occidental Petroleum by 53.9% in the fourth quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock valued at $2,877,000 after purchasing an additional 16,871 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. HSBC initiated coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 price target on the stock. Mizuho increased their target price on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Truist Financial upped their price objective on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, April 5th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Stephens reiterated an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a report on Thursday, February 15th. 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 company’s stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $71.94.

Occidental Petroleum Trading Down 0.1 %

Shares of OXY opened at $67.78 on Monday. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The company’s fifty day simple moving average is $64.27 and its 200-day simple moving average is $61.33. The company has a market cap of $60.08 billion, a P/E ratio of 17.34 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The business’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.61 earnings per share. As a group, analysts expect that Occidental Petroleum Co. will post 3.85 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were paid a $0.22 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

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.