19,239 Shares in Occidental Petroleum Corporation $OXY Bought by Baer Investment Advisory LLC

Baer Investment Advisory LLC bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) in the 1st quarter, HoldingsChannel.com reports. The firm bought 19,239 shares of the oil and gas producer’s stock, valued at approximately $1,251,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Caitlin John LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter worth about $29,000. Portus Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $29,000. Activest Wealth Management boosted its stake in Occidental Petroleum by 68.5% in the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 305 shares during the period. Rossby Financial LCC grew its position in Occidental Petroleum by 155.0% during the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 465 shares in the last quarter. Finally, Binnacle Investments Inc acquired a new stake in Occidental Petroleum during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity

In other Occidental Petroleum news, CEO Richard A. Jackson acquired 4,770 shares of Occidental Petroleum stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average cost of $52.38 per share, with a total value of $249,852.60. Following the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The purchase was disclosed in a legal 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 Stock Down 0.1%

NYSE OXY opened at $48.84 on Friday. Occidental Petroleum Corporation has a twelve month low of $38.80 and a twelve month high of $67.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The stock has a market cap of $48.58 billion, a PE ratio of 12.30 and a beta of 0.15. The firm has a 50-day simple moving average of $55.65 and a 200 day simple moving average of $52.04.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the prior year, the firm posted $0.14 EPS. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, research analysts forecast that Occidental Petroleum Corporation will post 5.99 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s payout ratio is 26.20%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OXY. Wolfe Research increased their target price on Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, April 6th. UBS Group dropped their price target on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Mizuho increased their price objective on Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Barclays upgraded Occidental Petroleum from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $59.00 to $72.00 in a research report on Tuesday, May 26th. Finally, Roth Mkm lifted their target price on Occidental Petroleum from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Nine equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $63.30.

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.