Net Worth Advisory Group Makes New $775,000 Investment in Occidental Petroleum Co. (NYSE:OXY)

Net Worth Advisory Group purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 15,036 shares of the oil and gas producer’s stock, valued at approximately $775,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Aaron Wealth Advisors LLC increased its stake in Occidental Petroleum by 21.7% during the third quarter. Aaron Wealth Advisors LLC now owns 5,353 shares of the oil and gas producer’s stock worth $276,000 after acquiring an additional 953 shares during the last quarter. Joule Financial LLC increased its position in shares of Occidental Petroleum by 3.9% during the 3rd quarter. Joule Financial LLC now owns 8,173 shares of the oil and gas producer’s stock worth $421,000 after purchasing an additional 310 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in Occidental Petroleum by 71.9% in the 3rd quarter. V Square Quantitative Management LLC now owns 6,050 shares of the oil and gas producer’s stock valued at $312,000 after buying an additional 2,531 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Occidental Petroleum by 2.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 82,663 shares of the oil and gas producer’s stock valued at $4,260,000 after buying an additional 1,594 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in Occidental Petroleum by 8.5% during the third quarter. Bleakley Financial Group LLC now owns 10,603 shares of the oil and gas producer’s stock worth $546,000 after buying an additional 834 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction that occurred 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 transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.48% of the company’s stock.

Occidental Petroleum Price Performance

OXY stock opened at $51.65 on Friday. The firm has a 50-day moving average of $54.08 and a two-hundred day moving average of $59.86. The firm has a market capitalization of $46.78 billion, a PE ratio of 12.72 and a beta of 1.57. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a one year low of $49.75 and a one year high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS 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 net margin of 16.62% and a return on equity of 17.91%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.68 earnings per share. On average, analysts forecast that Occidental Petroleum Co. will post 3.48 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.70%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 21.67%.

Wall Street Analyst Weigh In

A number of research analysts have commented on OXY shares. The Goldman Sachs Group assumed coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Mizuho cut their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Wolfe Research began coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective for the company. Finally, Scotiabank dropped their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $65.72.

Occidental Petroleum 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.