Wealth Enhancement Advisory Services LLC Purchases 19,734 Shares of Occidental Petroleum Co. (NYSE:OXY)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 25.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 95,888 shares of the oil and gas producer's stock after purchasing an additional 19,734 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Occidental Petroleum were worth $4,738,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of OXY. Vanguard Group Inc. raised its position in shares of Occidental Petroleum by 18.1% during the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock worth $3,365,992,000 after buying an additional 10,434,098 shares in the last quarter. Berkshire Hathaway Inc raised its holdings in Occidental Petroleum by 3.5% during the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock worth $13,053,055,000 after purchasing an additional 8,896,890 shares in the last quarter. Worldquant Millennium Advisors LLC lifted its position in Occidental Petroleum by 1,075.3% in the fourth 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 during the period. Marshall Wace LLP boosted its stake in 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 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock valued at $314,133,000 after purchasing an additional 1,278,389 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Down 1.7%

NYSE:OXY traded down $0.74 on Wednesday, hitting $41.95. 11,567,882 shares of the company's stock traded hands, compared to its average volume of 11,275,154. The company has a market cap of $41.28 billion, a PE ratio of 17.19 and a beta of 0.81. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $64.76. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $41.18 and a 200-day moving average price of $46.22.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The firm's revenue was up 13.9% on a year-over-year basis. Equities analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.29%. Occidental Petroleum's dividend payout ratio is 39.02%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OXY. Wells Fargo & Company decreased their target price on Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Citigroup raised their price objective on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Piper Sandler dropped their target price on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Raymond James lowered shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from $81.00 to $64.00 in a research note on Monday, March 10th. Finally, Wall Street Zen lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $53.14.

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.