Wealth Alliance Advisory Group LLC Boosts Holdings in Occidental Petroleum Co. (NYSE:OXY)

Wealth Alliance Advisory Group LLC grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 23.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,991 shares of the oil and gas producer’s stock after buying an additional 1,700 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in Occidental Petroleum were worth $567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of OXY. Berkshire Hathaway Inc boosted its holdings in shares of Occidental Petroleum by 8.7% during the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after purchasing an additional 19,586,612 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Occidental Petroleum by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer’s stock worth $220,910,000 after acquiring an additional 82,360 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Occidental Petroleum by 52.8% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer’s stock worth $83,568,000 after acquiring an additional 483,422 shares in the last quarter. National Pension Service increased its position in Occidental Petroleum by 2.7% in the fourth quarter. National Pension Service now owns 1,342,292 shares of the oil and gas producer’s stock worth $80,148,000 after purchasing an additional 34,786 shares during the last quarter. Finally, Clean Energy Transition LLP purchased a new stake in Occidental Petroleum during the first quarter valued at $67,601,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $56.98 on Friday. 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 company has a market capitalization of $51.60 billion, a PE ratio of 15.57 and a beta of 1.61. The company has a 50 day moving average price of $59.80 and a 200-day moving average price of $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 issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the company posted $0.68 EPS. Occidental Petroleum’s revenue was up 2.2% on a year-over-year basis. As a group, equities analysts forecast that Occidental Petroleum Co. will post 3.69 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Stephens reaffirmed an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a research note on Thursday, August 8th. Citigroup cut their target price on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. UBS Group raised their price target on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Wolfe Research assumed coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective for the company. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $71.69.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 765,899 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average cost of $60.28 per share, for a total transaction of $46,168,391.72. Following the completion of the purchase, the insider now owns 252,333,913 shares in the company, valued at $15,210,688,275.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Berkshire Hathaway Inc purchased 765,899 shares of Occidental Petroleum stock in a transaction dated Wednesday, June 12th. The stock was purchased at an average cost of $60.28 per share, with a total value of $46,168,391.72. Following the transaction, the insider now owns 252,333,913 shares in the company, valued at approximately $15,210,688,275.64. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum 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 in the company, valued at approximately $5,923,116,413.50. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 4,656,747 shares of company stock valued at $278,664,028. Company 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.