Chemistry Wealth Management LLC Purchases 16,459 Shares of Occidental Petroleum Co. (NYSE:OXY)

Chemistry Wealth Management LLC grew its position in Occidental Petroleum Co. (NYSE:OXY) by 65.1% during the first quarter, HoldingsChannel reports. The firm owned 41,754 shares of the oil and gas producer’s stock after buying an additional 16,459 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Occidental Petroleum were worth $2,061,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of OXY. Stratos Wealth Advisors LLC increased its position in Occidental Petroleum by 60.3% during the fourth quarter. Stratos Wealth Advisors LLC now owns 11,771 shares of the oil and gas producer’s stock worth $582,000 after acquiring an additional 4,428 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Occidental Petroleum by 42.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,711 shares of the oil and gas producer’s stock worth $2,754,000 after acquiring an additional 16,982 shares during the period. Choreo LLC increased its position in Occidental Petroleum by 3.5% during the fourth quarter. Choreo LLC now owns 61,770 shares of the oil and gas producer’s stock worth $3,014,000 after acquiring an additional 2,084 shares during the period. Silver Oak Securities Incorporated bought a new position in Occidental Petroleum during the fourth quarter worth $210,000. Finally, Strategic Financial Concepts LLC bought a new position in Occidental Petroleum during the fourth quarter worth $3,447,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OXY. TD Cowen lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and dropped their target price for the stock from $68.00 to $45.00 in a research report on Tuesday, April 8th. Citigroup boosted their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, May 19th. Susquehanna lowered their price target on shares of Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the company an “overweight” rating in a report on Wednesday, March 26th. Finally, Barclays boosted their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $53.14.

Occidental Petroleum Stock Up 1.8%

Shares of NYSE:OXY opened at $42.58 on Friday. Occidental Petroleum Co. has a 52 week low of $34.79 and a 52 week high of $64.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The company’s fifty day moving average is $40.76 and its 200-day moving average is $46.08. The company has a market capitalization of $41.90 billion, a PE ratio of 17.45 and a beta of 0.87.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. The business had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. Equities research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.25%. Occidental Petroleum’s dividend payout ratio (DPR) is 39.02%.

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.