Occidental Petroleum Corporation (NYSE:OXY) Shares Purchased by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC raised its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 13.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,863 shares of the oil and gas producer’s stock after purchasing an additional 2,163 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Occidental Petroleum were worth $931,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in OXY. Altshuler Shaham Ltd acquired a new position in shares of Occidental Petroleum in the 4th quarter worth approximately $26,000. VSM Wealth Advisory LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter worth approximately $27,000. Bernard Wealth Management Corp. acquired a new position in shares of Occidental Petroleum in the 4th quarter worth approximately $32,000. Grove Bank & Trust lifted its holdings in shares of Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 407 shares during the last quarter. Finally, American National Bank & Trust bought a new stake in shares of Occidental Petroleum in the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $45.72 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $44.99 billion, a price-to-earnings ratio of 18.59 and a beta of 0.84. The stock’s fifty day simple moving average is $42.71 and its 200 day simple moving average is $45.33. Occidental Petroleum Corporation has a 52-week low of $34.79 and a 52-week high of $64.76.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share 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 the consensus estimate of $6.97 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. Occidental Petroleum’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued 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 2.10%. Occidental Petroleum’s dividend payout ratio is 39.02%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OXY shares. UBS Group cut their price target on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Susquehanna cut their price target on Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Barclays raised their price target on Occidental Petroleum from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. cut their target price on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Finally, Wells Fargo & Company lifted their target price on Occidental Petroleum from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $53.38.

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.