Sowell Financial Services LLC Increases Holdings in Occidental Petroleum Corporation (NYSE:OXY)

Sowell Financial Services LLC grew its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 9.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,601 shares of the oil and gas producer’s stock after purchasing an additional 1,737 shares during the quarter. Sowell Financial Services LLC’s holdings in Occidental Petroleum were worth $967,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $26,000. VSM Wealth Advisory LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $27,000. Bernard Wealth Management Corp. purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $32,000. Finally, American National Bank & Trust purchased a new stake in shares of Occidental Petroleum during the 1st quarter valued at $39,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OXY shares. UBS Group decreased their price objective on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company decreased their price objective on Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Stephens decreased their price objective on Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Finally, Piper Sandler decreased their price objective on Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $53.14.

Occidental Petroleum Stock Down 1.4%

Shares of NYSE OXY opened at $45.34 on Thursday. Occidental Petroleum Corporation has a 12 month low of $34.79 and a 12 month high of $64.76. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $44.62 billion, a price-to-earnings ratio of 18.43 and a beta of 0.87. The business has a 50-day moving average of $41.44 and a 200-day moving average of $45.76.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Occidental Petroleum’s revenue was up 13.9% on a year-over-year basis. Sell-side analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum’s payout ratio is 39.02%.

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.