8,934 Shares in Occidental Petroleum Corporation $OXY Purchased by Evolve Private Wealth LLC

Evolve Private Wealth LLC purchased a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 8,934 shares of the oil and gas producer’s stock, valued at approximately $436,000.

Other large investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Occidental Petroleum by 12.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,765 shares of the oil and gas producer’s stock valued at $111,000 after purchasing an additional 196 shares in the last quarter. Athena Wealth Management LLC increased its position in Occidental Petroleum by 1.2% in the first quarter. Athena Wealth Management LLC now owns 18,547 shares of the oil and gas producer’s stock worth $1,206,000 after purchasing an additional 214 shares during the last quarter. Elevation Wealth Partners LLC raised its stake in Occidental Petroleum by 15.8% during the second quarter. Elevation Wealth Partners LLC now owns 1,615 shares of the oil and gas producer’s stock valued at $78,000 after purchasing an additional 220 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in Occidental Petroleum by 2.8% during the second quarter. HBK Sorce Advisory LLC now owns 8,210 shares of the oil and gas producer’s stock valued at $442,000 after purchasing an additional 220 shares during the last quarter. Finally, Carrera Capital Advisors grew its stake in shares of Occidental Petroleum by 0.5% in the 4th quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock worth $1,831,000 after buying an additional 227 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the topic of several recent research reports. Truist Financial upped their target price on shares of Occidental Petroleum from $57.00 to $63.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Weiss Ratings raised Occidental Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group lowered their price objective on Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Stephens decreased their price target on Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Finally, Citigroup cut their price objective on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.83.

Insider Activity at Occidental Petroleum

In related news, CEO Richard A. Jackson bought 4,770 shares of Occidental Petroleum stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer owned 444,098 shares in the company, valued at $23,261,853.24. The trade was a 1.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $58.44 on Wednesday. The stock has a 50 day moving average price of $54.77 and a 200 day moving average price of $55.74. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-week high of $67.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The firm has a market capitalization of $58.42 billion, a P/E ratio of 9.05, a P/E/G ratio of 0.95 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The company had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the prior year, the company posted $0.39 EPS. Occidental Petroleum’s quarterly revenue was up 53.4% on a year-over-year basis. As a group, sell-side analysts predict that Occidental Petroleum Corporation will post 6.09 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be given a $0.28 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.12 annualized dividend and a yield of 1.9%. Occidental Petroleum’s dividend payout ratio is presently 16.10%.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.