Occidental Petroleum Corporation $OXY Position Trimmed by Kingswood Wealth Advisors LLC

Key Points

• Kingswood Wealth Advisors LLC reduced its stake in Occidental Petroleum by 37.0% during the second quarter, selling 13,182 shares and holding a total of 22,489 shares valued at $945,000.
• Several analysts recently adjusted their price targets for Occidental Petroleum, with HSBC raising its target from $48.00 to $55.00 and Mizuho increasing theirs from $58.00 to $60.00.
• Occidental Petroleum declared a quarterly dividend of $0.24 per share, payable on October 15th, representing an annual yield of 2.1%.

Kingswood Wealth Advisors LLC lessened its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 37.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,489 shares of the oil and gas producer's stock after selling 13,182 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Occidental Petroleum were worth $945,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $1,274,000. Kestra Private Wealth Services LLC grew its stake in shares of Occidental Petroleum by 5.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer's stock valued at $843,000 after buying an additional 906 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Occidental Petroleum by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer's stock valued at $78,813,000 after buying an additional 140,528 shares in the last quarter. swisspartners Advisors Ltd bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $6,006,000. Finally, Blackhawk Capital Partners LLC. bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $344,000. Institutional investors own 88.70% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HSBC raised Occidental Petroleum from a "hold" rating to a "buy" rating and boosted their price target for the company from $48.00 to $55.00 in a research note on Friday, October 3rd. Weiss Ratings restated a "hold (c-)" rating on shares of Occidental Petroleum in a report on Wednesday. Mizuho upgraded Occidental Petroleum from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $58.00 to $60.00 in a report on Friday, October 3rd. Bank of America boosted their target price on Occidental Petroleum from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Evercore ISI reduced their target price on Occidental Petroleum from $40.00 to $38.00 and set an "underperform" rating for the company in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $52.43.

Occidental Petroleum Stock Performance

OXY opened at $45.05 on Thursday. The stock has a market cap of $44.35 billion, a PE ratio of 26.66 and a beta of 0.95. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $55.24. The stock's 50 day simple moving average is $45.63 and its 200-day simple moving average is $43.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analysts' expectations of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.Occidental Petroleum's quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 earnings per share. Sell-side analysts forecast 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. Shareholders of record on Wednesday, September 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio 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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