Wealthfront Advisers LLC Acquires 8,512 Shares of Occidental Petroleum Corporation $OXY

Wealthfront Advisers LLC grew its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 336,138 shares of the oil and gas producer’s stock after purchasing an additional 8,512 shares during the quarter. Wealthfront Advisers LLC’s holdings in Occidental Petroleum were worth $14,121,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Occidental Petroleum in the 2nd quarter valued at about $27,000. MQS Management LLC bought a new position in shares of Occidental Petroleum during the 2nd quarter worth approximately $978,000. Leavell Investment Management Inc. raised its stake in shares of Occidental Petroleum by 79.6% during the 2nd quarter. Leavell Investment Management Inc. now owns 11,294 shares of the oil and gas producer’s stock worth $477,000 after acquiring an additional 5,005 shares in the last quarter. DDD Partners LLC raised its stake in shares of Occidental Petroleum by 275.0% during the 2nd quarter. DDD Partners LLC now owns 54,641 shares of the oil and gas producer’s stock worth $2,295,000 after acquiring an additional 40,071 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Occidental Petroleum by 0.7% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,608,015 shares of the oil and gas producer’s stock worth $67,553,000 after acquiring an additional 11,316 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.6%

OXY stock opened at $42.60 on Monday. The firm’s fifty day simple moving average is $45.21 and its 200-day simple moving average is $43.51. The company has a market capitalization of $41.94 billion, a P/E ratio of 25.21 and a beta of 0.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $53.20.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Occidental Petroleum’s dividend payout ratio is currently 56.80%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OXY. HSBC upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $48.00 to $55.00 in a research note on Friday, October 3rd. Bank of America boosted their price objective on shares of Occidental Petroleum from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Wells Fargo & Company assumed coverage on shares of Occidental Petroleum in a research note on Friday, October 17th. They set an “underweight” rating and a $42.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Finally, Piper Sandler dropped their target price on shares of Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $52.26.

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.