Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Scissortail Wealth Management LLC

Scissortail Wealth Management LLC boosted its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 79,362.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,357 shares of the oil and gas producer's stock after acquiring an additional 6,349 shares during the quarter. Scissortail Wealth Management LLC's holdings in Occidental Petroleum were worth $314,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OXY. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $26,000. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum during the 4th quarter worth approximately $27,000. VSM Wealth Advisory LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth approximately $27,000. Atala Financial Inc purchased a new position in Occidental Petroleum in the 4th quarter valued at approximately $40,000. Finally, Millstone Evans Group LLC purchased a new position in Occidental Petroleum in the 4th quarter valued at approximately $42,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Down 0.8%

NYSE OXY opened at $43.02 on Friday. The firm's fifty day moving average price is $42.69 and its 200 day moving average price is $47.00. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $64.76. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The company has a market capitalization of $42.34 billion, a price-to-earnings ratio of 17.63 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter last year, the company posted $0.63 earnings per share. The business's quarterly revenue was up 13.9% compared to the same quarter last year. On average, sell-side analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be paid 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 2.23%. Occidental Petroleum's dividend payout ratio is presently 39.02%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OXY. TD Cowen cut Occidental Petroleum from a "buy" rating to a "hold" rating and reduced their price objective for the company from $68.00 to $45.00 in a research note on Tuesday, April 8th. Roth Capital set a $54.00 price target on Occidental Petroleum in a report on Thursday, January 23rd. Raymond James lowered Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from $81.00 to $64.00 in a research report on Monday, March 10th. UBS Group lowered their price objective on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, Citigroup cut their target price on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $53.48.

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.

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