Kingsview Wealth Management LLC Takes Position in Occidental Petroleum Corporation $OXY

Kingsview Wealth Management LLC bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 90,179 shares of the oil and gas producer’s stock, valued at approximately $4,380,000.

Several other institutional investors and hedge funds have also bought and sold shares of OXY. Axiom Investment Management LLC purchased a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $25,000. GKV Capital Management Co. Inc. purchased a new position in shares of Occidental Petroleum in the first quarter worth $26,000. Portus Wealth Advisors LLC purchased a new position in shares of Occidental Petroleum in the first quarter worth $29,000. Hara Capital LLC bought a new stake in Occidental Petroleum during the 2nd quarter valued at $25,000. Finally, Ballast Advisors LLC purchased a new stake in Occidental Petroleum during the 1st quarter valued at $39,000. 88.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson acquired 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average price of $52.38 per share, with a total value of $249,852.60. Following the transaction, the chief executive officer directly owned 444,098 shares in the company, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

Occidental Petroleum Stock Down 0.1%

Shares of Occidental Petroleum stock opened at $59.12 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The company has a market cap of $59.10 billion, a P/E ratio of 9.15, a PEG ratio of 0.94 and a beta of 0.15. The company’s fifty day simple moving average is $55.18 and its two-hundred day simple moving average is $55.95.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, topping the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The firm had revenue of $8.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same period last year, the company posted $0.39 EPS. The company’s quarterly revenue was up 53.4% compared to the same quarter last year. Research analysts anticipate that Occidental Petroleum Corporation will post 6.09 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, September 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s payout ratio is currently 16.10%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on OXY shares. Mizuho raised their price target on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Weiss Ratings lowered shares of Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Wall Street Zen raised Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Susquehanna boosted their price target on Occidental Petroleum from $67.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group lowered their price target on Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Ten research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $64.83.

Occidental Petroleum Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.