Chemistry Wealth Management LLC Boosts Stake in Occidental Petroleum Co. (NYSE:OXY)

Chemistry Wealth Management LLC lifted 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 and Exchange Commission (SEC). The firm owned 41,754 shares of the oil and gas producer's stock after acquiring an additional 16,459 shares during the period. Chemistry Wealth Management LLC's holdings in Occidental Petroleum were worth $2,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $26,000. Whipplewood Advisors LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $27,000. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $27,000. Bernard Wealth Management Corp. purchased a new position in Occidental Petroleum during the 4th quarter worth $32,000. Finally, American National Bank & Trust acquired a new stake in shares of Occidental Petroleum in the 1st quarter worth $39,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of several recent research reports. Susquehanna dropped their target price on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley set a $58.00 price target on Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. Stephens dropped their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Raymond James lowered Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $81.00 to $64.00 in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of "Hold" and a consensus target price of $53.14.

Occidental Petroleum Stock Up 1.5%

NYSE:OXY traded up $0.65 during trading hours on Tuesday, reaching $43.89. The company had a trading volume of 9,144,063 shares, compared to its average volume of 11,324,943. The business's 50-day simple moving average is $40.64 and its two-hundred day simple moving average is $45.93. Occidental Petroleum Co. has a twelve month low of $34.79 and a twelve month high of $64.76. 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 firm has a market cap of $43.20 billion, a price-to-earnings ratio of 17.99 and a beta of 0.87.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same period in the prior year, the firm posted $0.63 EPS. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. On average, equities analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.19%. Occidental Petroleum's payout ratio is presently 39.02%.

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.