Occidental Petroleum Co. (NYSE:OXY) Stock Position Increased by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC boosted its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 65.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,754 shares of the oil and gas producer's stock after purchasing an additional 16,459 shares during the quarter. Chemistry Wealth Management LLC's holdings in Occidental Petroleum were worth $2,061,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of OXY. Berkshire Hathaway Inc increased its stake in Occidental Petroleum by 3.5% during the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock valued at $13,053,055,000 after buying an additional 8,896,890 shares during the period. Vanguard Group Inc. increased its stake in Occidental Petroleum by 18.1% during the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after buying an additional 10,434,098 shares during the period. Geode Capital Management LLC increased its stake in Occidental Petroleum by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock valued at $701,816,000 after buying an additional 398,467 shares during the period. Northern Trust Corp increased its stake in Occidental Petroleum by 7.5% during the 4th quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock valued at $349,085,000 after buying an additional 491,797 shares during the period. Finally, Invesco Ltd. increased its stake in Occidental Petroleum by 25.2% during the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock valued at $314,133,000 after buying an additional 1,278,389 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on OXY. Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Raymond James cut shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Piper Sandler lowered their price objective on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Scotiabank cut shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective on the stock. in a research note on Friday, April 11th. Finally, Citigroup lifted their price objective on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $53.14.

Occidental Petroleum Price Performance

NYSE OXY opened at $42.58 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $41.90 billion, a PE ratio of 17.45 and a beta of 0.87. The company has a 50 day moving average price of $40.76 and a two-hundred day moving average price of $46.08. Occidental Petroleum Co. has a 12-month low of $34.79 and a 12-month high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. The firm had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company's revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is 39.02%.

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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