Wealthspire Advisors LLC Grows Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Wealthspire Advisors LLC increased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,637 shares of the oil and gas producer’s stock after acquiring an additional 637 shares during the quarter. Wealthspire Advisors LLC’s holdings in Occidental Petroleum were worth $607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Investment Research & Advisory Group Inc. increased its stake in shares of Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 167 shares during the period. LifeSteps Financial Inc. purchased a new position in shares of Occidental Petroleum in the first quarter valued at about $34,000. Able Wealth Management LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth about $38,000. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum in the first quarter worth about $44,000. Finally, LRI Investments LLC purchased a new position in Occidental Petroleum during the 1st quarter valued at about $44,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

Shares of OXY opened at $51.30 on Tuesday. Occidental Petroleum Co. has a 12 month low of $49.90 and a 12 month high of $71.18. The business’s fifty day simple moving average is $57.66 and its two-hundred day simple moving average is $61.52. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The company has a market cap of $46.45 billion, a price-to-earnings ratio of 14.02 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. Occidental Petroleum’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. Research analysts anticipate that Occidental Petroleum Co. will post 3.71 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.72%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OXY. Scotiabank reduced their target price on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wolfe Research assumed coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective for the company. Stephens reaffirmed an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday, August 8th. Susquehanna decreased their price target on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Finally, Mizuho cut their price objective on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday. 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $72.33.

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.