Peterson Wealth Services Grows Stock Position in Occidental Petroleum Corporation $OXY

Peterson Wealth Services increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 1,498.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,986 shares of the oil and gas producer’s stock after purchasing an additional 14,986 shares during the quarter. Peterson Wealth Services’ holdings in Occidental Petroleum were worth $755,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OXY. Vanguard Group Inc. lifted its stake in shares of Occidental Petroleum by 10.3% in the second quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock worth $3,718,054,000 after buying an additional 8,273,030 shares in the last quarter. State Street Corp raised its holdings in Occidental Petroleum by 1.6% in the 2nd quarter. State Street Corp now owns 39,044,478 shares of the oil and gas producer’s stock valued at $1,649,147,000 after acquiring an additional 615,566 shares during the last quarter. Geode Capital Management LLC lifted its stake in Occidental Petroleum by 22.0% in the 2nd quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock worth $756,796,000 after purchasing an additional 3,267,269 shares in the last quarter. Fairfax Financial Holdings Ltd. Can grew its position in shares of Occidental Petroleum by 0.5% in the second quarter. Fairfax Financial Holdings Ltd. Can now owns 6,050,418 shares of the oil and gas producer’s stock valued at $254,118,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Occidental Petroleum by 11.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,955,130 shares of the oil and gas producer’s stock valued at $208,165,000 after purchasing an additional 522,408 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of several analyst reports. HSBC dropped their target price on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Occidental Petroleum in a report on Thursday, January 22nd. The Goldman Sachs Group reduced their target price on shares of Occidental Petroleum from $43.00 to $41.00 and set a “sell” rating on the stock in a research note on Thursday, January 22nd. Wells Fargo & Company dropped their price target on shares of Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating for the company in a research note on Wednesday, November 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Occidental Petroleum from $44.00 to $42.00 and set an “underweight” rating for the company in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.48.

Occidental Petroleum Stock Down 3.5%

Occidental Petroleum stock opened at $43.79 on Tuesday. The company has a market capitalization of $43.14 billion, a PE ratio of 32.20 and a beta of 0.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94. Occidental Petroleum Corporation has a fifty-two week low of $34.78 and a fifty-two week high of $52.58. The firm has a 50 day moving average price of $42.02 and a 200 day moving average price of $43.34.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. The business had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The company’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. Research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th were paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, December 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. Occidental Petroleum’s dividend payout ratio is 70.59%.

Insider Activity

In other Occidental Petroleum news, Director William R. Klesse acquired 5,000 shares of the stock in a transaction dated Tuesday, December 16th. The stock was acquired at an average price of $38.98 per share, with a total value of $194,900.00. Following the completion of the purchase, the director owned 218,913 shares in the company, valued at $8,533,228.74. This trade represents a 2.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.49% of the company’s stock.

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.