Moran Wealth Management LLC Raises Stock Holdings in Occidental Petroleum Corporation $OXY

Moran Wealth Management LLC boosted its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 45.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,093 shares of the oil and gas producer’s stock after acquiring an additional 17,786 shares during the period. Moran Wealth Management LLC’s holdings in Occidental Petroleum were worth $3,711,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of OXY. Dimensional Fund Advisors LP raised its position in shares of Occidental Petroleum by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after purchasing an additional 1,883,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Occidental Petroleum by 54.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock worth $162,820,000 after buying an additional 1,393,638 shares during the period. Wellington Management Group LLP increased its stake in Occidental Petroleum by 1,029.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock worth $70,580,000 after buying an additional 1,361,541 shares in the last quarter. Invesco Ltd. increased its stake in Occidental Petroleum by 18.9% in the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock worth $276,772,000 after buying an additional 1,071,948 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Occidental Petroleum by 134.3% during the third quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer’s stock valued at $85,798,000 after acquiring an additional 1,040,941 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson bought 4,770 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, the chief executive officer owned 444,098 shares in the company, valued at $23,261,853.24. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Occidental Petroleum Trading Down 0.1%

Shares of Occidental Petroleum stock opened at $48.84 on Monday. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $55.65 and a 200-day moving average price of $52.12. The firm has a market cap of $48.58 billion, a price-to-earnings ratio of 12.30 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. Equities research analysts anticipate that Occidental Petroleum Corporation will post 5.99 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio is currently 26.20%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on OXY shares. Raymond James Financial boosted their price objective on Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Wells Fargo & Company lifted their target price on Occidental Petroleum from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Scotiabank boosted their price target on Occidental Petroleum from $46.00 to $57.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Susquehanna upped their price target 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, JPMorgan Chase & Co. cut their price objective on shares of Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Nine equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.30.

Occidental Petroleum 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.