Aviance Capital Partners LLC Purchases 48,920 Shares of Occidental Petroleum Co. (NYSE:OXY)

Aviance Capital Partners LLC boosted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 241.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,213 shares of the oil and gas producer’s stock after buying an additional 48,920 shares during the period. Aviance Capital Partners LLC’s holdings in Occidental Petroleum were worth $4,498,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC boosted its stake in Occidental Petroleum by 8.9% during the fourth quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock valued at $343,000 after buying an additional 474 shares during the last quarter. Cullen Investment Group LTD. bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $1,006,000. Koshinski Asset Management Inc. lifted its stake in shares of Occidental Petroleum by 53.9% in the 4th 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 during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Occidental Petroleum by 1,279.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 231,899 shares of the oil and gas producer’s stock valued at $13,847,000 after purchasing an additional 215,091 shares during the last quarter. Finally, Bridgefront Capital LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $763,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Up 0.5 %

Shares of NYSE:OXY traded up $0.31 on Monday, reaching $63.34. The company had a trading volume of 678,527 shares, compared to its average volume of 8,015,274. Occidental Petroleum Co. has a 52-week low of $55.12 and a 52-week high of $71.18. The firm’s 50 day simple moving average is $62.94 and its 200-day simple moving average is $61.77. The firm has a market capitalization of $56.16 billion, a PE ratio of 17.22 and a beta of 1.61. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same period last year, the business posted $1.09 EPS. The business’s revenue was down 17.2% compared to the same quarter last year. As a group, analysts expect that Occidental Petroleum Co. will post 3.88 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.39%. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

Analysts Set New Price Targets

Several research firms have recently issued reports on OXY. Truist Financial lowered Occidental Petroleum from a “buy” rating to a “hold” rating and lowered their price objective for the company from $84.00 to $69.00 in a research note on Thursday, May 16th. Susquehanna raised their price target on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Morgan Stanley raised their price target on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Mizuho raised their price target on Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Eleven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average price target of $71.56.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 524,340 shares of the stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average price of $59.75 per share, with a total value of $31,329,315.00. Following the transaction, the insider now directly owns 248,542,468 shares of the company’s stock, valued at $14,850,412,463. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have purchased 4,656,747 shares of company stock worth $278,664,028. 0.48% of the stock is currently owned by company insiders.

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.