ASO GROUP Ltd Makes New Investment in Occidental Petroleum Corporation $OXY

ASO GROUP Ltd acquired a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 10,663 shares of the oil and gas producer’s stock, valued at approximately $438,000.

Other large investors also recently made changes to their positions in the company. Activest Wealth Management lifted its stake in shares of Occidental Petroleum by 68.5% in the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 305 shares during the period. Binnacle Investments Inc acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at $35,000. Garner Asset Management Corp acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at $37,000. Elyxium Wealth LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at $39,000. Finally, Byrne Asset Management LLC lifted its stake in shares of Occidental Petroleum by 96.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,219 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

OXY has been the topic of a number of analyst reports. HSBC increased their price target on Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Wall Street Zen raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Piper Sandler raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and increased their price target for the company from $54.00 to $66.00 in a research note on Thursday, March 12th. Susquehanna raised their price objective on Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a research note on Tuesday, April 21st. Finally, Roth Mkm raised their price objective on Occidental Petroleum from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.74.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $55.51 on Friday. The stock’s fifty day simple moving average is $57.99 and its 200 day simple moving average is $51.03. The company has a market capitalization of $55.21 billion, a PE ratio of 13.98 and a beta of 0.14. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. On average, research analysts predict that Occidental Petroleum Corporation will post 5.79 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio is 26.20%.

About Occidental Petroleum

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.