Axxcess Wealth Management LLC Purchases 7,906 Shares of Occidental Petroleum Corporation $OXY

Key Points

• Axxcess Wealth Management LLC increased its holdings in Occidental Petroleum by 48.3%, acquiring an additional 7,906 shares, now totaling 24,290 shares valued at approximately $1,020,000.
• Vanguard Group also boosted its stake in Occidental Petroleum by 17.8%, now owning over 80 million shares valued at nearly $4 billion.
• Occidental Petroleum's stock recently traded around $41.00, with a market cap of $40.36 billion and an average target price from analysts at $52.61.

Axxcess Wealth Management LLC raised its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 48.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,290 shares of the oil and gas producer's stock after purchasing an additional 7,906 shares during the period. Axxcess Wealth Management LLC's holdings in Occidental Petroleum were worth $1,020,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of OXY. Vanguard Group Inc. increased its stake in Occidental Petroleum by 17.8% in the first quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer's stock valued at $3,960,202,000 after purchasing an additional 12,107,285 shares in the last quarter. Nuveen LLC bought a new stake in shares of Occidental Petroleum during the first quarter worth $99,853,000. Dimensional Fund Advisors LP increased its position in shares of Occidental Petroleum by 9.6% during the first quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer's stock worth $401,162,000 after acquiring an additional 710,220 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Occidental Petroleum by 926.9% during the first quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer's stock worth $38,381,000 after acquiring an additional 701,846 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of Occidental Petroleum during the second quarter worth $28,584,000. Institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on OXY shares. Roth Capital increased their price objective on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday, October 2nd. Hsbc Global Res upgraded shares of Occidental Petroleum from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. Morgan Stanley restated an "equal weight" rating and set a $52.00 target price on shares of Occidental Petroleum in a report on Monday, August 18th. Melius began coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a "hold" rating and a $64.00 target price for the company. Finally, Wells Fargo & Company reduced their target price on shares of Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum presently has an average rating of "Hold" and an average target price of $52.61.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $41.00 on Friday. The stock has a market cap of $40.36 billion, a P/E ratio of 24.26 and a beta of 0.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The company has a fifty day moving average price of $45.53 and a two-hundred day moving average price of $43.49. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $53.20.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to analysts' expectations of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 earnings per share. As a group, equities analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th were given a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. Occidental Petroleum's dividend payout ratio is presently 56.80%.

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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