Independent Financial Group LLC Takes $2.73 Million Position in Occidental Petroleum Corporation $OXY

Independent Financial Group LLC purchased a new position in Occidental Petroleum Corporation (NYSE:OXY) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,941 shares of the oil and gas producer’s stock, valued at approximately $2,726,000.

A number of other large investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in Occidental Petroleum by 21.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock worth $436,008,000 after buying an additional 1,883,721 shares during the period. Bank of New York Mellon Corp grew its stake in Occidental Petroleum by 44.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,761,082 shares of the oil and gas producer’s stock worth $374,470,000 after acquiring an additional 1,776,922 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Occidental Petroleum by 54.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock worth $162,820,000 after acquiring an additional 1,393,638 shares during the period. Wellington Management Group LLP raised its stake in shares of Occidental Petroleum by 1,029.9% during the third quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock valued at $70,580,000 after acquiring an additional 1,361,541 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Occidental Petroleum by 18.9% during the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock valued at $276,772,000 after acquiring an additional 1,071,948 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $54.89 on Friday. The company has a market capitalization of $54.60 billion, a price-to-earnings ratio of 13.83 and a beta of 0.15. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $54.80 and a 200 day moving average of $52.96.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter last year, the firm earned $0.14 EPS. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, sell-side analysts predict that Occidental Petroleum Corporation will post 5.66 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.9%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 26.20%.

Insider Transactions at Occidental Petroleum

In related news, CEO Richard A. Jackson bought 4,770 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were bought at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

OXY has been the topic of several research analyst reports. Truist Financial dropped their price objective on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Jefferies Financial Group upped their target price on Occidental Petroleum from $47.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, April 13th. Citigroup dropped their price target on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday. Scotiabank raised their price target on Occidental Petroleum from $46.00 to $57.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Roth Capital lifted their price objective on Occidental Petroleum from $45.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.17.

Occidental Petroleum Company Profile

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.