Diversify Wealth Management LLC Purchases 13,826 Shares of Occidental Petroleum Corporation $OXY

Diversify Wealth Management LLC lifted its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 108.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,531 shares of the oil and gas producer’s stock after buying an additional 13,826 shares during the period. Diversify Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,612,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of OXY. Simplicity Wealth LLC bought a new stake in Occidental Petroleum in the 1st quarter valued at approximately $220,000. Candriam S.C.A. lifted its position in shares of Occidental Petroleum by 43.3% in the first quarter. Candriam S.C.A. now owns 51,553 shares of the oil and gas producer’s stock worth $3,351,000 after purchasing an additional 15,588 shares in the last quarter. Conning Inc. bought a new stake in shares of Occidental Petroleum in the first quarter worth $214,000. Sequoia Financial Advisors LLC boosted its holdings in Occidental Petroleum by 55.1% during the first quarter. Sequoia Financial Advisors LLC now owns 39,095 shares of the oil and gas producer’s stock worth $2,541,000 after purchasing an additional 13,882 shares during the last quarter. Finally, ARGA Investment Management LP bought a new position in Occidental Petroleum in the first quarter valued at $204,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $54.60 on Wednesday. The stock has a market cap of $54.31 billion, a P/E ratio of 13.75 and a beta of 0.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. The company has a fifty day moving average price of $54.80 and a two-hundred day moving average price of $52.75. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the business earned $0.14 EPS. Occidental Petroleum’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, equities analysts predict that Occidental Petroleum Corporation will post 5.93 EPS for the current year.

Occidental Petroleum Dividend Announcement

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

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson bought 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired 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 $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on OXY shares. The Goldman Sachs Group lowered their price target on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Zacks Research cut Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Mizuho lifted their target price on Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Stephens dropped their target price on Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Scotiabank increased their price target on Occidental Petroleum from $46.00 to $57.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $64.26.

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.