Net Worth Advisory Group Takes Position in Occidental Petroleum Co. (NYSE:OXY)

Net Worth Advisory Group purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 15,036 shares of the oil and gas producer’s stock, valued at approximately $775,000.

A number of other large investors have also bought and sold shares of the stock. CapWealth Advisors LLC increased its stake in shares of Occidental Petroleum by 2.7% in the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after buying an additional 162 shares during the period. Meeder Advisory Services Inc. increased its position in shares of Occidental Petroleum by 2.0% in the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock valued at $553,000 after acquiring an additional 164 shares during the period. Investment Research & Advisory Group Inc. raised its stake in shares of Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 167 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of Occidental Petroleum by 2.6% during the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after purchasing an additional 173 shares during the period. Finally, Proficio Capital Partners LLC increased its holdings in Occidental Petroleum by 0.8% during the 1st quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock valued at $1,359,000 after purchasing an additional 175 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.

Occidental Petroleum Stock Down 0.1 %

NYSE:OXY opened at $51.65 on Friday. The stock has a fifty day simple moving average of $54.08 and a 200-day simple moving average of $59.86. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The company has a market cap of $46.78 billion, a price-to-earnings ratio of 12.72 and a beta of 1.57. Occidental Petroleum Co. has a twelve month low of $49.75 and a twelve month high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. Analysts anticipate that Occidental Petroleum Co. will post 3.48 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.70%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 21.67%.

Analyst Upgrades and Downgrades

OXY has been the topic of several research analyst reports. Wells Fargo & Company reduced their target price on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Wolfe Research assumed coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective for the company. Scotiabank cut their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. Finally, BMO Capital Markets cut their price objective on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $65.72.

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.