Chemistry Wealth Management LLC Grows Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Chemistry Wealth Management LLC lifted its position in Occidental Petroleum Co. (NYSE:OXY) by 34.0% in the 1st quarter, HoldingsChannel reports. The firm owned 29,651 shares of the oil and gas producer’s stock after purchasing an additional 7,524 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,927,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in Occidental Petroleum during the third quarter worth about $27,000. TLW Wealth Management LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $28,000. Grove Bank & Trust grew its holdings in Occidental Petroleum by 86.0% during the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 240 shares during the period. Criterion Capital Advisors LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $34,000. Finally, BKM Wealth Management LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $35,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was acquired at an average cost of $59.75 per share, with a total value of $19,984,044.75. Following the completion of the purchase, the insider now owns 255,281,524 shares of the company’s stock, valued at approximately $15,253,071,059. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders bought 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on OXY. Susquehanna raised their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Morgan Stanley raised their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Truist Financial lowered Occidental Petroleum from a “buy” rating to a “hold” rating and dropped their price objective for the company from $84.00 to $69.00 in a report on Thursday, May 16th. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $63.00 to $90.00 in a research report on Thursday, April 11th. Finally, StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Eleven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.56.

Occidental Petroleum Trading Down 0.4 %

NYSE:OXY traded down $0.23 on Wednesday, reaching $62.87. The company’s stock had a trading volume of 5,255,567 shares, compared to its average volume of 8,099,164. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. The firm has a market cap of $55.74 billion, a price-to-earnings ratio of 17.18 and a beta of 1.59. The stock has a 50 day moving average price of $63.14 and a 200 day moving average price of $61.64.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The company’s revenue for the quarter was down 17.2% on a year-over-year basis. On average, equities analysts anticipate that Occidental Petroleum Co. will post 3.88 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be paid a $0.22 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.40%. Occidental Petroleum’s payout ratio is presently 24.04%.

Occidental Petroleum 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.