Bell & Brown Wealth Advisors LLC Purchases 15,355 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Key Points

• Bell & Brown Wealth Advisors LLC increased its stake in Occidental Petroleum by 21.9%, acquiring an additional 15,355 shares, bringing its total holdings to 85,606 shares valued at approximately $4.23 million.
• Institutional investors now own 88.70% of Occidental Petroleum's stock, with several hedge funds, including Altshuler Shaham and Bernard Wealth Management, recently enhancing their positions.
• Occidental Petroleum recently posted earnings of $0.87 per share for the latest quarter, surpassing estimates and reflecting a 13.9% increase in revenue compared to the same quarter last year.

Bell & Brown Wealth Advisors LLC increased its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 21.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,606 shares of the oil and gas producer's stock after buying an additional 15,355 shares during the period. Occidental Petroleum accounts for about 1.6% of Bell & Brown Wealth Advisors LLC's portfolio, making the stock its 27th largest position. Bell & Brown Wealth Advisors LLC's holdings in Occidental Petroleum were worth $4,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Altshuler Shaham Ltd purchased a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $26,000. Bernard Wealth Management Corp. acquired a new stake in Occidental Petroleum in the 4th quarter valued at $32,000. Grove Bank & Trust grew its stake in Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after acquiring an additional 407 shares during the period. American National Bank & Trust purchased a new position in Occidental Petroleum in the 1st quarter valued at $39,000. Finally, Quarry LP lifted its holdings in Occidental Petroleum by 615.2% in the 4th quarter. Quarry LP now owns 987 shares of the oil and gas producer's stock valued at $49,000 after purchasing an additional 849 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Barclays lifted their target price on Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Scotiabank boosted their price objective on Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Mizuho decreased their target price on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a research note on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $53.71.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $44.64 on Friday. The company has a market capitalization of $43.93 billion, a P/E ratio of 18.14 and a beta of 0.84. The business's 50-day moving average price is $43.40 and its two-hundred day moving average price is $44.96. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $61.35. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its 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. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors 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 annualized dividend and a dividend yield of 2.15%. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.

Occidental Petroleum Company 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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