Occidental Petroleum Corporation $OXY Shares Sold by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC has decreased its position in Occidental Petroleum Corporation (OXY) by 5.2%, owning 103,869 shares valued at approximately $4.55 million as of the end of the 2nd quarter.
• Occidental Petroleum's recent earnings report showed an EPS of $0.39, exceeding estimates, with revenue of $6.41 billion, albeit a 6.1% year-over-year decline.
• The company declared a quarterly dividend of $0.24 per share, providing a 2.0% yield for shareholders, with the payment set for October 15th.

Wealth Enhancement Advisory Services LLC decreased its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 5.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 103,869 shares of the oil and gas producer's stock after selling 5,745 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Occidental Petroleum were worth $4,549,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OXY. Grove Bank & Trust lifted its position in shares of Occidental Petroleum by 129.2% in 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 in the last quarter. American National Bank & Trust purchased a new stake in shares of Occidental Petroleum in the first quarter valued at $39,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Occidental Petroleum in the first quarter valued at $39,000. Spectrum Wealth Counsel LLC lifted its position in shares of Occidental Petroleum by 5,000.0% in the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer's stock valued at $50,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in shares of Occidental Petroleum in the first quarter valued at $54,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

OXY has been the topic of several recent research reports. Melius Research initiated coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price objective on the stock. Melius started coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They set a "hold" rating and a $64.00 target price on the stock. Mizuho reduced their target price on Occidental Petroleum from $65.00 to $58.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. Scotiabank increased their target price on Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $52.00 target price 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 issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $54.70.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $47.00 on Friday. The firm has a market capitalization of $46.27 billion, a PE ratio of 27.81 and a beta of 1.04. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The business has a 50-day moving average of $45.31 and a two-hundred day moving average of $43.82. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $56.49.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced 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 period in the prior year, the firm posted $1.03 earnings per share. As a group, research analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.24 per share. 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 is currently 56.80%.

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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