OneAscent Financial Services LLC Buys New Shares in Occidental Petroleum Corporation (NYSE:OXY)

OneAscent Financial Services LLC purchased a new stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,038 shares of the oil and gas producer's stock, valued at approximately $496,000.

Other hedge funds also recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new position in Occidental Petroleum in the 4th quarter valued at $26,000. Bernard Wealth Management Corp. bought a new position in Occidental Petroleum in the fourth quarter valued at about $32,000. Grove Bank & Trust raised its position in shares of Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after acquiring an additional 407 shares during the last quarter. American National Bank & Trust bought a new position in shares of Occidental Petroleum during the first quarter worth about $39,000. Finally, Millstone Evans Group LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth approximately $42,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded up $0.16 during mid-day trading on Friday, hitting $44.79. The company had a trading volume of 1,881,456 shares, compared to its average volume of 12,128,192. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. The business's 50-day simple moving average is $43.40 and its 200-day simple moving average is $44.96. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $61.35. The firm has a market cap of $44.08 billion, a P/E ratio of 18.21 and a beta of 0.84.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The business had revenue of $6.80 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same period in the previous year, the firm posted $0.63 EPS. The firm's revenue was up 13.9% compared to the same quarter last year. As a group, analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.14%. Occidental Petroleum's payout ratio is presently 39.02%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OXY. Barclays raised their price target on Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Mizuho cut their price objective on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Scotiabank lifted their price objective on Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. UBS Group cut their target price on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, Susquehanna reduced their target price on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $53.71.

Occidental Petroleum Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.