WR Wealth Planners LLC Increases Stock Position in Occidental Petroleum Co. (NYSE:OXY)

WR Wealth Planners LLC boosted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 13.0% in the 2nd quarter, Holdings Channel reports. The firm owned 3,410 shares of the oil and gas producer’s stock after purchasing an additional 391 shares during the period. WR Wealth Planners LLC’s holdings in Occidental Petroleum were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of OXY. Cutter & CO Brokerage Inc. raised its holdings in shares of Occidental Petroleum by 0.8% in the second quarter. Cutter & CO Brokerage Inc. now owns 79,896 shares of the oil and gas producer’s stock valued at $5,036,000 after buying an additional 658 shares during the last quarter. Wealth Alliance Advisory Group LLC raised its stake in Occidental Petroleum by 23.3% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 8,991 shares of the oil and gas producer’s stock valued at $567,000 after acquiring an additional 1,700 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in Occidental Petroleum during the 2nd quarter worth approximately $213,000. Pinnacle Associates Ltd. grew its stake in shares of Occidental Petroleum by 12.8% in the 2nd quarter. Pinnacle Associates Ltd. now owns 151,033 shares of the oil and gas producer’s stock valued at $9,520,000 after purchasing an additional 17,094 shares during the last quarter. Finally, TFB Advisors LLC acquired a new position in shares of Occidental Petroleum in the second quarter valued at approximately $223,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

NYSE OXY traded down $0.23 during trading hours on Friday, reaching $56.98. The company’s stock had a trading volume of 9,622,330 shares, compared to its average volume of 11,645,702. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The stock has a market cap of $51.60 billion, a PE ratio of 15.57 and a beta of 1.61. The company’s 50-day moving average is $59.80 and its two-hundred day moving average is $62.07. Occidental Petroleum Co. has a fifty-two week low of $55.04 and a fifty-two week high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts forecast that Occidental Petroleum Co. will post 3.69 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.54%. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OXY. Wolfe Research initiated coverage on Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target for the company. Mizuho raised their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Citigroup dropped their price target on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Scotiabank reduced their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Truist Financial dropped their target price on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $71.69.

Insider Activity at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were acquired at an average price of $59.75 per share, for a total transaction of $19,984,044.75. Following the completion of the acquisition, the insider now directly owns 255,281,524 shares of the company’s stock, valued at $15,253,071,059. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The disclosure for this sale can be found here. Insiders have purchased a total of 4,656,747 shares of company stock valued at $278,664,028 over the last quarter. Insiders own 0.31% of the company’s stock.

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.