Palumbo Wealth Management LLC Purchases 9,710 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Palumbo Wealth Management LLC boosted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 34.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,119 shares of the oil and gas producer's stock after purchasing an additional 9,710 shares during the period. Palumbo Wealth Management LLC's holdings in Occidental Petroleum were worth $1,882,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Occidental Petroleum by 18.1% during the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after buying an additional 10,434,098 shares during the period. Berkshire Hathaway Inc increased its position in Occidental Petroleum by 3.5% during the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock valued at $13,053,055,000 after purchasing an additional 8,896,890 shares during the period. Worldquant Millennium Advisors LLC raised its holdings in Occidental Petroleum by 1,075.3% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer's stock worth $95,400,000 after purchasing an additional 1,766,491 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Occidental Petroleum by 48.1% during the 4th quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer's stock valued at $203,459,000 after purchasing an additional 1,337,728 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock valued at $314,133,000 after buying an additional 1,278,389 shares during the period. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Down 3.3%

Shares of Occidental Petroleum stock traded down $1.46 on Tuesday, reaching $42.49. The company's stock had a trading volume of 20,460,538 shares, compared to its average volume of 11,625,560. Occidental Petroleum Corporation has a 52 week low of $34.79 and a 52 week high of $64.76. The firm's fifty day simple moving average is $42.00 and its two-hundred day simple moving average is $45.60. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $41.81 billion, a price-to-earnings ratio of 17.27 and a beta of 0.87.

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

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.26%. Occidental Petroleum's dividend payout ratio (DPR) is 39.02%.

Wall Street Analysts Forecast Growth

Several analysts have commented on OXY shares. Stephens lowered their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Barclays raised their target price on Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Susquehanna reduced their price target on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Raymond James Financial 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 report on Monday, March 10th. Finally, Scotiabank cut shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 target price on the stock. in a report on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $53.14.

Occidental Petroleum Company 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.