Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC raised its position in Occidental Petroleum Co. (NYSE:OXY) by 36.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,455 shares of the oil and gas producer’s stock after acquiring an additional 1,731 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Occidental Petroleum were worth $385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Evergreen Wealth Management LLC lifted its holdings in shares of Occidental Petroleum by 2.1% in the 4th quarter. Evergreen Wealth Management LLC now owns 13,239 shares of the oil and gas producer’s stock valued at $790,000 after buying an additional 272 shares during the period. TCG Advisory Services LLC boosted its holdings in Occidental Petroleum by 4.5% during the fourth quarter. TCG Advisory Services LLC now owns 7,426 shares of the oil and gas producer’s stock worth $443,000 after buying an additional 321 shares in the last quarter. AJOVista LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $122,000. M&T Bank Corp boosted its position in Occidental Petroleum by 0.6% during the fourth quarter. M&T Bank Corp now owns 40,486 shares of the oil and gas producer’s stock worth $2,418,000 after purchasing an additional 252 shares in the last quarter. Finally, Merit Financial Group LLC raised its stake in shares of Occidental Petroleum by 20.6% during the 4th quarter. Merit Financial Group LLC now owns 5,322 shares of the oil and gas producer’s stock worth $318,000 after buying an additional 908 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of recent research reports. HSBC initiated coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They set a “hold” rating and a $65.00 price objective for the company. Truist Financial upped their price objective on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Mizuho lifted their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. Finally, Morgan Stanley boosted their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $71.88.

Occidental Petroleum Stock Up 0.9 %

OXY opened at $64.24 on Friday. The company has a market cap of $56.95 billion, a PE ratio of 16.43 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. Occidental Petroleum Co. has a 1 year low of $55.12 and a 1 year high of $71.18. The firm has a 50 day moving average price of $65.05 and a 200 day moving average price of $61.36.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter last year, the firm posted $1.09 EPS. The business’s revenue for the quarter was down 17.2% compared to the same quarter last year. Sell-side analysts expect that Occidental Petroleum Co. will post 3.81 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s payout ratio is 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.