Bell & Brown Wealth Advisors LLC Purchases New Stake in Occidental Petroleum Corporation $OXY

Bell & Brown Wealth Advisors LLC purchased a new position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 93,601 shares of the oil and gas producer's stock, valued at approximately $4,546,000. Occidental Petroleum comprises about 1.4% of Bell & Brown Wealth Advisors LLC's portfolio, making the stock its 29th largest position.

A number of other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Occidental Petroleum by 84.8% in the second quarter. Bank of New York Mellon Corp now owns 10,643,916 shares of the oil and gas producer's stock worth $516,975,000 after buying an additional 4,882,834 shares in the last quarter. Danske Bank A S bought a new stake in Occidental Petroleum during the 2nd quarter valued at approximately $172,413,000. Dimensional Fund Advisors LP grew its holdings in shares of Occidental Petroleum by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer's stock worth $436,008,000 after acquiring an additional 1,883,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Occidental Petroleum by 54.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer's stock worth $162,820,000 after acquiring an additional 1,393,638 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Occidental Petroleum by 1,029.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer's stock worth $70,580,000 after acquiring an additional 1,361,541 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

NYSE OXY opened at $60.06 on Thursday. The stock has a market capitalization of $60.04 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 0.81 and a beta of 0.15. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. Occidental Petroleum Corporation has a 1-year low of $38.80 and a 1-year high of $67.45. The business's fifty day moving average price is $54.34 and its 200-day moving average price is $55.32.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.57. The business had revenue of $8.06 billion for the quarter, compared to analysts' expectations of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The business's revenue for the quarter was up 53.4% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. On average, equities analysts predict that Occidental Petroleum Corporation will post 5.81 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.26. Occidental Petroleum's dividend payout ratio is 16.10%.

Insider Activity at Occidental Petroleum

In other news, CEO Richard A. Jackson acquired 4,770 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average cost of $52.38 per share, with a total value of $249,852.60. Following the transaction, the chief executive officer directly 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 filing with the SEC, which is available at this link. Company insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OXY shares. Morgan Stanley lowered their price target on shares of Occidental Petroleum from $74.00 to $68.00 and set an "equal weight" rating for the company in a research report on Friday, June 26th. Truist Financial raised their target price on shares of Occidental Petroleum from $57.00 to $63.00 and gave the company a "hold" rating in a research note on Monday, August 10th. The Goldman Sachs Group lowered their target price on shares of Occidental Petroleum from $64.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. Barclays dropped their price target on Occidental Petroleum from $75.00 to $71.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Raymond James Financial upped their price target on Occidental Petroleum from $64.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. Ten analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $64.83.

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.

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