SteelPeak Wealth LLC Buys 646 Shares of Occidental Petroleum Co. (NYSE:OXY)

SteelPeak Wealth LLC lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 14.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,109 shares of the oil and gas producer’s stock after purchasing an additional 646 shares during the period. SteelPeak Wealth LLC’s holdings in Occidental Petroleum were worth $323,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Investment Research & Advisory Group Inc. grew its holdings in shares of 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 purchasing an additional 167 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of 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 purchasing an additional 240 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter worth $34,000. LifeSteps Financial Inc. bought a new stake in shares of Occidental Petroleum during the first quarter worth $34,000. Finally, Able Wealth Management LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter worth $38,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OXY. Scotiabank decreased their price target on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wolfe Research began coverage on Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price target on the stock. Susquehanna raised their price target on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Citigroup decreased their price target on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Finally, Wells Fargo & Company cut their target price on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Ten equities research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $71.94.

Occidental Petroleum Stock Performance

NYSE:OXY traded down $0.29 during mid-day trading on Friday, hitting $57.52. 791,354 shares of the stock were exchanged, compared to its average volume of 8,106,399. The stock has a market capitalization of $51.00 billion, a price-to-earnings ratio of 15.80 and a beta of 1.61. The firm’s 50-day simple moving average is $60.62 and its 200 day simple moving average is $62.10. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. 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 released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. As a group, equities analysts anticipate that Occidental Petroleum Co. will post 3.63 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.53%. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 1,386,844 shares of the company’s stock in a transaction on Friday, June 7th. The stock was purchased at an average cost of $59.67 per share, with a total value of $82,752,981.48. Following the acquisition, the insider now directly owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders purchased 4,656,747 shares of company stock valued at $278,664,028 in the last three months. Corporate insiders own 0.31% 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.