Triton Wealth Management PLLC Makes New Investment in Occidental Petroleum Corporation $OXY

Triton Wealth Management PLLC purchased a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,170 shares of the oil and gas producer’s stock, valued at approximately $275,000.

Several other large investors have also modified their holdings of OXY. Grove Bank & Trust raised its holdings in Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 407 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Occidental Petroleum in the first quarter worth about $39,000. Spectrum Wealth Counsel LLC lifted its position 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 purchasing an additional 1,000 shares during the last quarter. Ransom Advisory Ltd bought a new stake in Occidental Petroleum during the 1st quarter valued at approximately $54,000. Finally, Trifecta Capital Advisors LLC boosted its stake in Occidental Petroleum by 4,393.9% during the 1st quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 1,450 shares during the period. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on OXY shares. Melius Research began coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target for the company. Hsbc Global Res upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Melius started 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. Finally, HSBC raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and upped their price objective for the company from $48.00 to $55.00 in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.61.

Occidental Petroleum Price Performance

NYSE:OXY opened at $42.27 on Wednesday. The company has a market capitalization of $41.62 billion, a price-to-earnings ratio of 25.01 and a beta of 0.95. The company has a 50-day moving average of $45.60 and a 200-day moving average of $43.56. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20. 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 announced its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter last year, the company earned $1.03 earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio is 56.80%.

About Occidental Petroleum

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.