Chicago Partners Investment Group LLC Grows Stock Holdings in Occidental Petroleum Corporation $OXY

Chicago Partners Investment Group LLC increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 243.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,137 shares of the oil and gas producer’s stock after purchasing an additional 13,564 shares during the period. Chicago Partners Investment Group LLC’s holdings in Occidental Petroleum were worth $1,244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Caitlin John LLC acquired a new position in Occidental Petroleum in the fourth quarter valued at approximately $29,000. Portus Wealth Advisors LLC acquired a new stake in Occidental Petroleum during the first quarter worth approximately $29,000. Activest Wealth Management raised its holdings in Occidental Petroleum by 68.5% during the fourth 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 in the last quarter. Rossby Financial LCC lifted its position in shares of 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 buying an additional 465 shares during the last quarter. Finally, Binnacle Investments Inc acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at $35,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Occidental Petroleum

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Stephens still rates Occidental Petroleum overweight and its new $69 price target implies meaningful upside from recent trading levels. Occidental Petroleum (NYSE:OXY) Given New $69.00 Price Target at Stephens
• Positive Sentiment: Multiple recent notes highlighted Occidental Petroleum as potentially undervalued, suggesting investors may see room for a rebound if earnings and oil-market conditions remain supportive. Occidental Petroleum (OXY) Stock Slides as Market Rises: Facts to Know Before You Trade
• Neutral Sentiment: Analysts appear split on Occidental Petroleum and other energy names, indicating uncertainty rather than a clear bullish or bearish catalyst. Analysts Conflicted on These Energy Names: Occidental Petroleum (OXY), Williams Co (WMB) and Targa Resources (TRGP)
• Neutral Sentiment: Commentary on Occidental Petroleum’s sensitivity to oil-market shifts may be relevant for investors, but it does not signal a direct company-specific catalyst. What Connects Occidental Petroleum (NYSE:OXY) to Oil Market Shifts?
• Negative Sentiment: OXY traded lower as the broader market rose, and a modest decline in the share price may reflect profit-taking and weaker near-term momentum. Occidental Petroleum (OXY) Stock Slides as Market Rises: Facts to Know Before You Trade

Insiders Place Their Bets

In related news, CEO Richard A. Jackson bought 4,770 shares of the stock in a transaction on Tuesday, June 23rd. The shares were bought 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 $23,261,853.24. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Occidental Petroleum Trading Down 1.5%

NYSE OXY opened at $53.77 on Thursday. The firm’s fifty day moving average is $54.77 and its two-hundred day moving average is $52.84. Occidental Petroleum Corporation has a one year low of $38.80 and a one year 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 firm has a market cap of $53.49 billion, a PE ratio of 13.55 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last announced its 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 business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the prior year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. Analysts expect that Occidental Petroleum Corporation will post 5.88 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th were given 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 of this dividend was Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 26.20%.

Wall Street Analyst Weigh In

OXY has been the topic of a number of recent analyst reports. Mizuho increased their target price on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Raymond James Financial boosted their price target on shares of Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Zacks Research lowered Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Truist Financial cut their target price on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Finally, HSBC boosted their target price on Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a report on Friday, March 20th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.26.

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.