Axxcess Wealth Management LLC Sells 6,917 Shares of Occidental Petroleum Co. (NYSE:OXY)

Axxcess Wealth Management LLC lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 18.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,743 shares of the oil and gas producer’s stock after selling 6,917 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. grew its position in shares of Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 167 shares during the last quarter. LifeSteps Financial Inc. bought a new stake in Occidental Petroleum in the first quarter valued at approximately $34,000. Able Wealth Management LLC acquired a new stake in Occidental Petroleum during the 4th quarter valued at approximately $38,000. New Covenant Trust Company N.A. bought a new position in Occidental Petroleum during the 1st quarter worth approximately $44,000. Finally, LRI Investments LLC bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at $44,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.6 %

Shares of NYSE OXY opened at $51.77 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. Occidental Petroleum Co. has a 1 year low of $49.90 and a 1 year high of $71.18. The stock has a market capitalization of $46.88 billion, a P/E ratio of 14.14 and a beta of 1.58. The company has a 50-day moving average price of $57.29 and a 200-day moving average price of $61.38.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the company posted $0.68 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that Occidental Petroleum Co. will post 3.71 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.70%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insiders Place Their Bets

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on OXY. Truist Financial dropped their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Susquehanna dropped their price objective on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Citigroup decreased their target price on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Mizuho dropped their price target on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, UBS Group reduced their price objective on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research report on Wednesday. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.60.

Occidental Petroleum Company 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.