Occidental Petroleum Corporation (NYSE:OXY) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 14.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,614 shares of the oil and gas producer's stock after purchasing an additional 13,726 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Occidental Petroleum were worth $5,411,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Everhart Financial Group Inc. raised its stake in Occidental Petroleum by 65.3% during the first quarter. Everhart Financial Group Inc. now owns 9,682 shares of the oil and gas producer's stock worth $478,000 after purchasing an additional 3,823 shares during the period. Focus Financial Network Inc. increased its holdings in shares of Occidental Petroleum by 9.8% during the 1st quarter. Focus Financial Network Inc. now owns 5,502 shares of the oil and gas producer's stock worth $272,000 after buying an additional 492 shares during the last quarter. CX Institutional raised its position in shares of Occidental Petroleum by 58.5% in the 1st quarter. CX Institutional now owns 6,869 shares of the oil and gas producer's stock worth $339,000 after buying an additional 2,534 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Occidental Petroleum by 252.9% in the first quarter. Assenagon Asset Management S.A. now owns 165,984 shares of the oil and gas producer's stock valued at $8,193,000 after acquiring an additional 274,548 shares during the last quarter. Finally, Integrated Advisors Network LLC purchased a new stake in Occidental Petroleum during the first quarter valued at about $208,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup raised their price objective on Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Piper Sandler cut their price target on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Stephens reduced their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Finally, Hsbc Global Res raised shares of Occidental Petroleum to a "hold" rating in a research note on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $53.14.

Occidental Petroleum Trading Down 0.0%

Shares of OXY opened at $42.47 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. Occidental Petroleum Corporation has a one year low of $34.79 and a one year high of $64.76. The stock has a 50-day moving average price of $42.08 and a 200 day moving average price of $45.58. The company has a market capitalization of $41.80 billion, a P/E ratio of 17.26 and a beta of 0.87.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. The company had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The business's revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. Sell-side analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's payout ratio is currently 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.

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