2,895 Shares in Occidental Petroleum Co. (NYSE:OXY) Bought by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,895 shares of the oil and gas producer’s stock, valued at approximately $143,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Benchmark Investment Advisors LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $642,000. Fisher Asset Management LLC boosted its position in Occidental Petroleum by 1.1% during the fourth quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock worth $30,320,000 after purchasing an additional 6,461 shares in the last quarter. Mountain Lake Investment Management LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at $618,000. Milestones Administradora de Recursos Ltda. grew its holdings in Occidental Petroleum by 10.6% in the fourth quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer’s stock valued at $9,577,000 after purchasing an additional 18,500 shares during the last quarter. Finally, Sage Investment Counsel LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at $499,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $46.40 on Friday. The firm has a market cap of $45.67 billion, a P/E ratio of 19.02 and a beta of 0.87. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 1-year low of $34.79 and a 1-year high of $64.76. The business’s 50 day moving average is $41.05 and its 200-day moving average is $45.83.

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. The business had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. Equities research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be paid 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 2.07%. Occidental Petroleum’s payout ratio is presently 39.02%.

Analysts Set New Price Targets

OXY has been the topic of several recent research reports. Scotiabank downgraded Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 price objective on the stock. in a research report on Friday, April 11th. Morgan Stanley set a $58.00 target price on Occidental Petroleum and gave the company an “overweight” rating in a research note on Wednesday, March 26th. Raymond James downgraded Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Piper Sandler cut their price target on Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Finally, Stephens cut their target price on Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.14.

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.