Turtle Creek Wealth Advisors LLC Invests $1.02 Million in Occidental Petroleum Corporation $OXY

Key Points

• Turtle Creek Wealth Advisors LLC has invested approximately $1.02 million in Occidental Petroleum, acquiring 24,296 shares during the second quarter.
• Occidental Petroleum's recent quarterly earnings showed a net income of $0.39 per share, exceeding analyst expectations, with total revenue of $6.41 billion.
• Several investment analysts have provided mixed ratings for Occidental Petroleum, with a current consensus of "Hold" and an average target price of $52.61.

Turtle Creek Wealth Advisors LLC bought a new position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 24,296 shares of the oil and gas producer's stock, valued at approximately $1,021,000.

Several other institutional investors have also recently made changes to their positions in OXY. Northeast Financial Consultants Inc increased its stake in Occidental Petroleum by 0.4% during the first quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer's stock worth $2,890,000 after acquiring an additional 242 shares during the last quarter. Inspire Investing LLC increased its stake in Occidental Petroleum by 3.8% during the second quarter. Inspire Investing LLC now owns 6,720 shares of the oil and gas producer's stock worth $282,000 after acquiring an additional 247 shares during the last quarter. S.A. Mason LLC increased its stake in Occidental Petroleum by 5.9% during the second quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer's stock worth $223,000 after acquiring an additional 295 shares during the last quarter. Moody National Bank Trust Division boosted its position in shares of Occidental Petroleum by 2.0% during 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 buying an additional 300 shares during the period. Finally, Verdence Capital Advisors LLC boosted its position in shares of Occidental Petroleum by 3.7% during the second quarter. Verdence Capital Advisors LLC now owns 8,437 shares of the oil and gas producer's stock valued at $354,000 after buying an additional 300 shares during the period. Institutional investors own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Melius Research assumed coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They set a "hold" rating and a $64.00 target price for the company. Melius assumed coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They set a "hold" rating and a $64.00 target price for the company. Evercore ISI dropped their target price on Occidental Petroleum from $40.00 to $38.00 and set an "underperform" rating for the company in a research report on Friday, October 3rd. Morgan Stanley restated an "equal weight" rating and set a $52.00 target price on shares of Occidental Petroleum in a research report on Monday, August 18th. Finally, Bank of America lifted their target price on Occidental Petroleum from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $52.61.

Occidental Petroleum Stock Down 0.9%

Occidental Petroleum stock opened at $41.89 on Thursday. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $53.20. The business has a fifty day moving average of $45.58 and a two-hundred day moving average of $43.55. The firm has a market cap of $41.24 billion, a P/E ratio of 24.79 and a beta of 0.95. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released 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 firm 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 business's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. On average, analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, September 10th. Occidental Petroleum's 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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