HB Wealth Management LLC Purchases 12,426 Shares of Occidental Petroleum Corporation $OXY

HB Wealth Management LLC grew its position in Occidental Petroleum Corporation (NYSE:OXY) by 54.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,285 shares of the oil and gas producer’s stock after purchasing an additional 12,426 shares during the period. HB Wealth Management LLC’s holdings in Occidental Petroleum were worth $2,294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in OXY. Dimensional Fund Advisors LP increased its position in shares of Occidental Petroleum by 21.6% in 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 buying an additional 1,883,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Occidental Petroleum by 54.3% during the fourth 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 acquiring an additional 1,393,638 shares in the last quarter. Wellington Management Group LLP grew its stake in Occidental Petroleum by 1,029.9% in the third quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock valued at $70,580,000 after acquiring an additional 1,361,541 shares during the period. Invesco Ltd. raised its position in shares of Occidental Petroleum by 18.9% during the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock worth $276,772,000 after purchasing an additional 1,071,948 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Occidental Petroleum by 134.3% during the 3rd 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 purchasing an additional 1,040,941 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson purchased 4,770 shares of the stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the purchase, the chief executive officer owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

OXY has been the subject of a number of research reports. UBS Group lowered their target price on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Morgan Stanley cut their price target on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 26th. Weiss Ratings cut shares of Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Barclays raised shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $59.00 to $72.00 in a research report on Tuesday, May 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Occidental Petroleum from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Nine research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $63.30.

Occidental Petroleum Trading Down 0.2%

NYSE OXY opened at $48.80 on Tuesday. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week 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’s 50 day moving average price is $55.65 and its two-hundred day moving average price is $52.12. The stock has a market capitalization of $48.54 billion, a price-to-earnings ratio of 12.29 and a beta of 0.15.

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

Occidental Petroleum Announces Dividend

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

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.