Jamison Private Wealth Management Inc. Buys 1,541 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Jamison Private Wealth Management Inc. lifted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 20.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,255 shares of the oil and gas producer’s stock after purchasing an additional 1,541 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Occidental Petroleum were worth $457,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Benchmark Investment Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter worth approximately $642,000. Fisher Asset Management LLC boosted its stake in shares of Occidental Petroleum by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock worth $30,320,000 after acquiring an additional 6,461 shares during the period. Milestones Administradora de Recursos Ltda. boosted its stake in shares of Occidental Petroleum by 10.6% during the 4th quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer’s stock worth $9,577,000 after acquiring an additional 18,500 shares during the period. Sage Investment Counsel LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $499,000. Finally, Snider Financial Group bought a new stake in Occidental Petroleum in the 4th quarter valued at $390,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the subject of a number of research analyst reports. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the stock an “overweight” rating in a research report on Wednesday, March 26th. TD Cowen lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their price target for the company from $68.00 to $45.00 in a research note on Tuesday, April 8th. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Piper Sandler reduced their price objective on Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their target price on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.14.

Occidental Petroleum Price Performance

OXY stock opened at $45.68 on Friday. The company’s 50-day moving average price is $41.78 and its two-hundred day moving average price is $45.67. The firm has a market cap of $44.96 billion, a P/E ratio of 18.57 and a beta of 0.87. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. Occidental Petroleum Corporation has a 12 month low of $34.79 and a 12 month high of $64.76.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The business had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.97 billion. During the same period last year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.10%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.02%.

Occidental Petroleum 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.