Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Stapp Wealth Management Pllc

Stapp Wealth Management Pllc grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,652 shares of the oil and gas producer’s stock after purchasing an additional 1,138 shares during the quarter. Occidental Petroleum makes up approximately 2.3% of Stapp Wealth Management Pllc’s holdings, making the stock its 12th biggest holding. Stapp Wealth Management Pllc’s holdings in Occidental Petroleum were worth $1,342,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of OXY. Investment Research & Advisory Group Inc. raised its stake in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 167 shares during the period. 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 raised its stake 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. Finally, Criterion Capital Advisors LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OXY shares. Truist Financial cut Occidental Petroleum from a “buy” rating to a “hold” rating and cut their price target for the company from $84.00 to $69.00 in a report on Thursday, May 16th. Mizuho lifted their price target on Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $63.00 to $90.00 in a report on Thursday, April 11th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Barclays started coverage on Occidental Petroleum in a report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $71.56.

Occidental Petroleum Price Performance

Occidental Petroleum stock traded down $0.28 during mid-day trading on Wednesday, hitting $62.08. The company’s stock had a trading volume of 2,874,644 shares, compared to its average volume of 8,000,708. 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 stock has a market capitalization of $55.04 billion, a P/E ratio of 17.01 and a beta of 1.61. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The stock’s fifty day moving average price is $62.76 and its two-hundred day moving average price is $61.83.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the previous year, the company posted $1.09 EPS. The company’s quarterly revenue was down 17.2% compared to the same quarter last year. Research analysts forecast that Occidental Petroleum Co. will post 3.88 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Monday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 24.04%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 524,340 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $59.75 per share, with a total value of $31,329,315.00. Following the purchase, the insider now directly owns 248,542,468 shares of the company’s stock, valued at approximately $14,850,412,463. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased 4,656,747 shares of company stock valued at $278,664,028 in the last quarter. Company insiders own 0.48% of the company’s stock.

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.