Mid American Wealth Advisory Group Inc. Buys New Shares in Occidental Petroleum Corporation $OXY

Mid American Wealth Advisory Group Inc. purchased a new position in Occidental Petroleum Corporation (NYSE:OXY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,307 shares of the oil and gas producer’s stock, valued at approximately $55,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of OXY. Caitong International Asset Management Co. Ltd bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at about $39,000. Spectrum Wealth Counsel LLC lifted its position in Occidental Petroleum by 5,000.0% in the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 1,000 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $54,000. Quarry LP grew its holdings in shares of Occidental Petroleum by 69.7% in the first quarter. Quarry LP now owns 1,675 shares of the oil and gas producer’s stock worth $83,000 after purchasing an additional 688 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Occidental Petroleum in the first quarter worth $95,000. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on OXY shares. HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and raised their price target for the stock from $48.00 to $55.00 in a report on Friday, October 3rd. Evercore ISI cut their target price on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a research note on Friday, October 3rd. JPMorgan Chase & Co. upped their price target on Occidental Petroleum from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Piper Sandler boosted their target price on Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $52.39.

Occidental Petroleum Stock Up 0.4%

OXY stock opened at $41.05 on Tuesday. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. The company has a market capitalization of $40.41 billion, a price-to-earnings ratio of 24.29 and a beta of 0.95. The business’s 50 day moving average price is $45.41 and its two-hundred day moving average price is $43.39. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The firm’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. As a group, analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 56.80%.

Occidental Petroleum Company 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.