Kingsview Wealth Management LLC Acquires 3,937 Shares of Occidental Petroleum Co. (NYSE:OXY)

Kingsview Wealth Management LLC boosted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 22.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,450 shares of the oil and gas producer’s stock after acquiring an additional 3,937 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,106,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fortitude Family Office LLC lifted its stake in Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Occidental Petroleum in the third quarter valued at $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum during the 1st quarter valued at about $44,000. LRI Investments LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter valued at $44,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Occidental Petroleum in the 3rd quarter valued at about $87,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Price Performance

Shares of OXY opened at $49.81 on Wednesday. The business’s 50-day moving average is $51.72 and its two-hundred day moving average is $56.72. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The company has a market capitalization of $46.74 billion, a P/E ratio of 12.97 and a beta of 1.58. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.77%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OXY. Wells Fargo & Company dropped their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Stephens lifted their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Truist Financial cut their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Raymond James lifted their target price on Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Finally, Scotiabank dropped their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.25.

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.