Investors Asset Management of Georgia Inc. GA ADV Cuts Stake in Occidental Petroleum Corporation $OXY

Key Points

• Investors Asset Management of Georgia Inc. GA ADV reduced its stake in Occidental Petroleum by 24.6%, holding 25,410 shares valued at approximately $1,067,000 after selling 8,270 shares.
• Despite a recent earnings report showing a slight profit beating estimates, Occidental Petroleum's revenue fell 6.1% year-over-year, signaling potential challenges ahead.
• Analyst ratings on Occidental Petroleum vary widely, with one strong buy, six buy ratings, and a consensus average rating of hold and a target price of $52.87.

Investors Asset Management of Georgia Inc. GA ADV lessened its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 24.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,410 shares of the oil and gas producer's stock after selling 8,270 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV's holdings in Occidental Petroleum were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust lifted its stake 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 buying an additional 407 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Occidental Petroleum in the 1st quarter valued at approximately $39,000. Spectrum Wealth Counsel LLC boosted its stake in Occidental Petroleum by 5,000.0% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock valued at $50,000 after purchasing an additional 1,000 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Occidental Petroleum in the 1st quarter worth $54,000. Finally, Trifecta Capital Advisors LLC raised its stake in shares of Occidental Petroleum by 4,393.9% in the first quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer's stock worth $73,000 after purchasing an additional 1,450 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OXY shares. Evercore ISI dropped their price objective on Occidental Petroleum from $40.00 to $38.00 and set an "underperform" rating on the stock in a research report on Friday. Wall Street Zen downgraded shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Mizuho raised shares of Occidental Petroleum from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $58.00 to $60.00 in a report on Friday. Wells Fargo & Company lowered their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. Finally, Scotiabank lifted their target price on shares of Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $52.87.

Occidental Petroleum Stock Up 1.4%

OXY opened at $44.86 on Monday. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $56.49. The firm's 50 day simple moving average is $45.63 and its two-hundred day simple moving average is $43.76. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $44.16 billion, a PE ratio of 26.54 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.Occidental Petroleum's revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. As a group, equities analysts forecast 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 will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Occidental Petroleum's dividend payout ratio (DPR) is 56.80%.

About Occidental Petroleum

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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