Meridian Wealth Management LLC Has $221,000 Position in Occidental Petroleum Corporation $OXY

Meridian Wealth Management LLC decreased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 42.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,258 shares of the oil and gas producer’s stock after selling 3,915 shares during the period. Meridian Wealth Management LLC’s holdings in Occidental Petroleum were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $39,000. Hantz Financial Services Inc. lifted its position in shares of Occidental Petroleum by 1,193.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 788 shares during the last quarter. MeadowBrook Investment Advisors LLC boosted its stake in Occidental Petroleum by 371.7% in the second quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after buying an additional 788 shares in the last quarter. Finally, Spectrum Wealth Counsel LLC grew its position in Occidental Petroleum by 5,000.0% in the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 1,000 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Up 2.0%

OXY opened at $42.53 on Wednesday. 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 fifty-two week low of $34.78 and a fifty-two week high of $53.20. The company’s 50 day moving average price is $43.61 and its two-hundred day moving average price is $43.77. The firm has a market capitalization of $41.90 billion, a price-to-earnings ratio of 25.17 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. Occidental Petroleum’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 earnings per share. As a group, research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. Occidental Petroleum’s dividend payout ratio is presently 70.59%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on OXY shares. JPMorgan Chase & Co. increased their target price on shares of Occidental Petroleum from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. UBS Group lowered their price objective on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Occidental Petroleum in a research report on Wednesday, October 8th. Roth Capital boosted their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Finally, Evercore ISI dropped their price target on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.19.

Occidental Petroleum 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.