Apollon Wealth Management LLC Raises Stock Holdings in Occidental Petroleum Corporation (NYSE:OXY)

Apollon Wealth Management LLC raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 38.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,108 shares of the oil and gas producer's stock after purchasing an additional 6,415 shares during the quarter. Apollon Wealth Management LLC's holdings in Occidental Petroleum were worth $1,141,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Benchmark Investment Advisors LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $642,000. Vanguard Group Inc. boosted its position in shares of Occidental Petroleum by 18.1% during the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after acquiring an additional 10,434,098 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Occidental Petroleum by 9.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer's stock worth $78,813,000 after buying an additional 140,528 shares during the last quarter. Invesco Ltd. increased its stake in Occidental Petroleum by 25.2% in the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock worth $314,133,000 after purchasing an additional 1,278,389 shares during the period. Finally, Northern Trust Corp boosted its position in Occidental Petroleum by 7.5% during the fourth quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock valued at $349,085,000 after purchasing an additional 491,797 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Up 2.2%

NYSE:OXY opened at $43.55 on Friday. The company's 50-day simple moving average is $43.36 and its 200-day simple moving average is $45.18. The stock has a market capitalization of $42.86 billion, a P/E ratio of 17.70 and a beta of 0.84. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. Occidental Petroleum Corporation has a fifty-two week low of $34.79 and a fifty-two week high of $64.76.

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

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is currently 39.02%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OXY. Citigroup boosted their price objective on Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. increased their price objective on Occidental Petroleum from $47.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday. Wells Fargo & Company decreased their price objective on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a research report on Tuesday. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Finally, TD Cowen downgraded Occidental Petroleum from a "buy" rating to a "hold" rating and dropped their price objective for the company from $68.00 to $45.00 in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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.

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