CW Advisors LLC Takes Position in Occidental Petroleum Corporation $OXY

Key Points

• CW Advisors LLC invested $575,000 in Occidental Petroleum Corporation, acquiring 11,758 shares during the first quarter.
• Institutional investors currently hold 88.70% of Occidental Petroleum's stock, indicating strong institutional interest.
• Analysts have mixed ratings on the stock, with a consensus price target of $54.65 and 4 Buy ratings compared to 17 Hold ratings.

CW Advisors LLC bought a new position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,758 shares of the oil and gas producer's stock, valued at approximately $575,000.

Other large investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new stake in shares of Occidental Petroleum in the fourth quarter worth about $32,000. Grove Bank & Trust increased its holdings in shares of Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after purchasing an additional 407 shares during the last quarter. American National Bank & Trust purchased a new position in Occidental Petroleum in the first quarter worth about $39,000. Caitong International Asset Management Co. Ltd purchased a new position in Occidental Petroleum in the first quarter worth about $39,000. Finally, Quarry LP grew its position in Occidental Petroleum by 615.2% in the fourth quarter. Quarry LP now owns 987 shares of the oil and gas producer's stock worth $49,000 after acquiring an additional 849 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Up 0.3%

Shares of NYSE:OXY traded up $0.14 during trading hours on Friday, hitting $47.65. 5,793,572 shares of the company's stock traded hands, compared to its average volume of 10,005,581. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $57.57. The business has a fifty day moving average price of $44.30 and a 200-day moving average price of $44.06. The firm has a market capitalization of $46.91 billion, a P/E ratio of 28.19 and a beta of 0.91. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83.

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

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum's payout ratio is currently 56.80%.

Analyst Upgrades and Downgrades

Several research firms recently commented on OXY. Morgan Stanley reiterated an "equal weight" rating and issued a $52.00 price target on shares of Occidental Petroleum in a research report on Monday, August 18th. Scotiabank lifted their price target 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 dropped their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Melius began coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price target for the company. Finally, Wells Fargo & Company dropped their price target on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $54.65.

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.