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

Meridian Wealth Management LLC lessened its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 42.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Occidental Petroleum in the 2nd quarter worth about $27,000. Hantz Financial Services Inc. boosted 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 valued at $36,000 after purchasing an additional 788 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Occidental Petroleum in the first quarter worth approximately $39,000. MeadowBrook Investment Advisors LLC increased its holdings 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 worth $42,000 after purchasing an additional 788 shares in the last quarter. Finally, Spectrum Wealth Counsel LLC boosted its holdings in shares of Occidental Petroleum by 5,000.0% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Roth Capital lifted their price objective on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Melius began coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price objective on the stock. Piper Sandler reduced their target price on Occidental Petroleum from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Bank of America boosted their target price on Occidental Petroleum from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $51.19.

Occidental Petroleum Price Performance

OXY stock opened at $42.53 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. The business has a 50-day simple moving average of $43.61 and a two-hundred day simple moving average of $43.77. The company has a market capitalization of $41.90 billion, a P/E ratio of 25.17 and a beta of 0.91. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $53.20.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, topping the consensus estimate of $0.48 by $0.16. The firm had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.66 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 earnings per share. Research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

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

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.