One Plus One Wealth Management LLC Invests $685,000 in Occidental Petroleum Corporation $OXY

Key Points

• One Plus One Wealth Management LLC invested $685,000 in Occidental Petroleum Corporation by acquiring 16,304 shares during the second quarter.
• Several institutional investors have recently increased their stakes in Occidental Petroleum, contributing to institutional ownership reaching 88.70% of the company's stock.
• Occidental Petroleum announced a quarterly dividend of $0.24 per share, which will be paid on October 15th, representing an annualized yield of 2.0%.

One Plus One Wealth Management LLC acquired a new position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,304 shares of the oil and gas producer's stock, valued at approximately $685,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OXY. Northeast Financial Consultants Inc increased its stake in Occidental Petroleum by 0.4% in the first quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer's stock valued at $2,890,000 after acquiring an additional 242 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Occidental Petroleum by 20.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock valued at $81,000 after acquiring an additional 274 shares during the period. S.A. Mason LLC increased its stake in Occidental Petroleum by 5.9% in the second quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer's stock valued at $223,000 after acquiring an additional 295 shares during the period. Moody National Bank Trust Division increased its stake in Occidental Petroleum by 2.0% in the second quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer's stock valued at $644,000 after acquiring an additional 300 shares during the period. Finally, Freestone Capital Holdings LLC increased its stake in Occidental Petroleum by 4.2% in the first quarter. Freestone Capital Holdings LLC now owns 7,521 shares of the oil and gas producer's stock valued at $371,000 after acquiring an additional 304 shares during the period. Institutional investors own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OXY. Morgan Stanley reissued an "equal weight" rating and issued a $52.00 target price on shares of Occidental Petroleum in a research note on Monday, August 18th. Melius began coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They issued a "hold" rating and a $64.00 target price on the stock. Wall Street Zen cut shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Mizuho decreased their price objective on shares of Occidental Petroleum from $65.00 to $58.00 and set a "neutral" rating on the stock in a research note on Monday, September 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $54.70.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $47.46 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $46.72 billion, a price-to-earnings ratio of 28.08 and a beta of 1.04. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $56.49. The firm's 50-day moving average price is $45.39 and its two-hundred day moving average price is $43.83.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same period in the prior year, the business earned $1.03 earnings per share. Occidental Petroleum's quarterly revenue was down 6.1% on a year-over-year basis. On average, equities analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum's dividend payout ratio is presently 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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