Kingswood Wealth Advisors LLC Grows Stake in Occidental Petroleum Corporation (NYSE:OXY)

Kingswood Wealth Advisors LLC lifted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,671 shares of the oil and gas producer’s stock after purchasing an additional 4,934 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Occidental Petroleum were worth $1,758,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OXY. CIBC Asset Management Inc raised its stake in shares of Occidental Petroleum by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 109,148 shares of the oil and gas producer’s stock valued at $5,393,000 after buying an additional 5,285 shares during the period. Atria Wealth Solutions Inc. raised its stake in Occidental Petroleum by 94.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 25,259 shares of the oil and gas producer’s stock valued at $1,248,000 after acquiring an additional 12,251 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Occidental Petroleum by 43.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 28,545 shares of the oil and gas producer’s stock valued at $1,410,000 after purchasing an additional 8,610 shares during the last quarter. Callahan Advisors LLC bought a new position in Occidental Petroleum during the fourth quarter worth about $400,000. Finally, New York State Common Retirement Fund increased its stake in shares of Occidental Petroleum by 1.9% in the fourth quarter. New York State Common Retirement Fund now owns 740,970 shares of the oil and gas producer’s stock worth $36,611,000 after purchasing an additional 13,633 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Barclays upped their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Susquehanna dropped their target price on Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Mizuho reduced their price target on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their price objective on Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Finally, Citigroup lifted their target price on Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, May 19th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.14.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $45.34 on Thursday. The company’s fifty day moving average price is $41.44 and its 200-day moving average price is $45.76. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. The firm has a market capitalization of $44.62 billion, a price-to-earnings ratio of 18.43 and a beta of 0.87. Occidental Petroleum Corporation has a one year low of $34.79 and a one year high of $64.76.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The business had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.97 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. On average, equities research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.12%. Occidental Petroleum’s payout ratio is 39.02%.

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.