Kestra Advisory Services LLC Increases Position in Occidental Petroleum Corporation $OXY

Key Points

• Kestra Advisory Services LLC increased its stake in Occidental Petroleum by 22.6%, acquiring an additional 21,232 shares, bringing its total holdings to 115,086 shares valued at approximately $5.68 million.
• Major institutional investors such as Vanguard Group and Berkshire Hathaway have also raised their stakes in Occidental Petroleum, highlighting strong interest from the investment community.
• Occidental Petroleum recently declared a quarterly dividend of $0.24 per share, representing a 2.1% dividend yield, with a payout ratio of 56.80%.

Kestra Advisory Services LLC increased its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 22.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 115,086 shares of the oil and gas producer's stock after purchasing an additional 21,232 shares during the quarter. Kestra Advisory Services LLC's holdings in Occidental Petroleum were worth $5,681,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of OXY. Bernard Wealth Management Corp. bought a new stake in Occidental Petroleum during the fourth quarter valued at about $32,000. Grove Bank & Trust raised its holdings in Occidental Petroleum by 129.2% during the first 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 bought a new stake in Occidental Petroleum during the first quarter valued at about $39,000. Caitong International Asset Management Co. Ltd bought a new stake in Occidental Petroleum during the first quarter valued at about $39,000. Finally, Quarry LP raised its holdings in Occidental Petroleum by 615.2% during the fourth quarter. Quarry LP now owns 987 shares of the oil and gas producer's stock valued at $49,000 after acquiring an additional 849 shares during the period. 88.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on OXY. Melius began coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a "hold" rating and a $64.00 price target on the stock. Scotiabank raised their price target on Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Melius Research initiated coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They set a "hold" rating and a $64.00 price objective for the company. Mizuho cut their price objective 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. Finally, Morgan Stanley restated an "equal weight" rating and set a $52.00 price objective on shares of Occidental Petroleum in a research report on Monday, August 18th. Four research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $54.65.

Occidental Petroleum Trading Up 1.4%

OXY traded up $0.66 on Thursday, hitting $47.53. The company had a trading volume of 7,982,064 shares, compared to its average volume of 10,026,614. The company has a market cap of $46.79 billion, a PE ratio of 28.12 and a beta of 0.91. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $57.57. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The business's fifty day simple moving average is $44.26 and its 200 day simple moving average is $44.07.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results 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 company 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%.The firm's revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share. Equities research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

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