Bulltick Wealth Management LLC Invests $495,000 in Occidental Petroleum Corporation (NYSE:OXY)

Key Points

• Bulltick Wealth Management LLC has invested approximately $495,000 in Occidental Petroleum Corporation by acquiring 10,000 shares of the company's stock in the first quarter.
• Occidental Petroleum reported $0.39 earnings per share for the last quarter, surpassing analysts' expectations of $0.38, with a net margin of 8.79%.
• The company announced a quarterly dividend of $0.24 per share to be paid on October 15th, reflecting a 2.2% dividend yield and a payout ratio of 56.80%.

Bulltick Wealth Management LLC acquired a new stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the oil and gas producer's stock, valued at approximately $495,000.

Other institutional investors have also bought and sold shares of the company. Cerity Partners LLC boosted its stake in Occidental Petroleum by 14.6% during the fourth quarter. Cerity Partners LLC now owns 80,892 shares of the oil and gas producer's stock worth $4,059,000 after buying an additional 10,312 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Occidental Petroleum by 86.7% in the fourth quarter. Renaissance Technologies LLC now owns 297,672 shares of the oil and gas producer's stock valued at $14,708,000 after purchasing an additional 138,264 shares during the period. Advisory Services Network LLC increased its position in Occidental Petroleum by 48.5% during the fourth quarter. Advisory Services Network LLC now owns 21,208 shares of the oil and gas producer's stock worth $1,048,000 after purchasing an additional 6,925 shares during the last quarter. Townsquare Capital LLC raised its stake in Occidental Petroleum by 3.5% during the fourth quarter. Townsquare Capital LLC now owns 118,951 shares of the oil and gas producer's stock worth $5,877,000 after purchasing an additional 4,016 shares during the period. Finally, Sagespring Wealth Partners LLC purchased a new position in Occidental Petroleum during the fourth quarter worth about $434,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

OXY stock opened at $43.74 on Tuesday. The business's 50-day moving average is $43.98 and its two-hundred day moving average is $44.25. 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 firm has a market capitalization of $43.06 billion, a P/E ratio of 25.88 and a beta of 0.91. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $59.11.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion for the quarter, compared to analysts' expectations of $6.29 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm's revenue was down 6.1% 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's payout ratio is 56.80%.

Analysts Set New Price Targets

OXY has been the topic of several analyst reports. Scotiabank lifted their price target on shares of Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Susquehanna cut their target price on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Stephens decreased their price target on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Citigroup increased their price target on Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Finally, Barclays boosted their price objective on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Three research 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.com, the stock currently has an average rating of "Hold" and an average target price of $53.71.

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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