Stapp Wealth Management Pllc Acquires 1,138 Shares of Occidental Petroleum Co. (NYSE:OXY)

Stapp Wealth Management Pllc raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.8% in the first quarter, HoldingsChannel.com reports. The firm owned 20,652 shares of the oil and gas producer’s stock after buying an additional 1,138 shares during the period. Occidental Petroleum comprises 2.3% of Stapp Wealth Management Pllc’s holdings, making the stock its 12th largest position. Stapp Wealth Management Pllc’s holdings in Occidental Petroleum were worth $1,342,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of OXY. Investment Research & Advisory Group Inc. grew its stake in shares of Occidental Petroleum by 75.2% in the 1st 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 in the last quarter. Orion Capital Management LLC purchased a new position in shares of Occidental Petroleum in the 3rd quarter worth about $27,000. TLW Wealth Management LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter worth about $28,000. Grove Bank & Trust boosted its holdings in shares of Occidental Petroleum by 86.0% in the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 240 shares during the last quarter. Finally, Criterion Capital Advisors LLC purchased a new stake in Occidental Petroleum during the fourth quarter valued at about $34,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of OXY stock traded down $0.28 during trading on Wednesday, hitting $62.08. The company 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’s 50-day moving average is $62.76 and its two-hundred day moving average is $61.83. The stock has a market capitalization of $55.04 billion, a price-to-earnings ratio of 17.01 and a beta of 1.61. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18.

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. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. Occidental Petroleum’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 earnings per share. As a group, analysts predict that Occidental Petroleum Co. will post 3.88 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

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

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 524,340 shares of Occidental Petroleum stock in a transaction on Wednesday, June 5th. The shares were acquired at an average cost of $59.75 per share, for a total transaction of $31,329,315.00. Following the completion of the transaction, the insider now directly owns 248,542,468 shares of the company’s stock, valued at $14,850,412,463. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders have acquired 4,656,747 shares of company stock worth $278,664,028 over the last ninety days. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Occidental Petroleum from $68.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, June 21st. HSBC assumed coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 price objective on the stock. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Mizuho increased their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Finally, Susquehanna increased their price target on shares of Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Eleven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.56.

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.