12,144 Shares in Occidental Petroleum Corporation $OXY Bought by Womack Financial LLC

Womack Financial LLC purchased a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,144 shares of the oil and gas producer’s stock, valued at approximately $590,000.

A number of other hedge funds have also modified their holdings of OXY. Axiom Investment Management LLC purchased a new position in shares of Occidental Petroleum in the first quarter worth about $25,000. Hara Capital LLC purchased a new stake in Occidental Petroleum in the second quarter valued at approximately $25,000. GKV Capital Management Co. Inc. acquired a new position in Occidental Petroleum in the 1st quarter worth approximately $26,000. Portus Wealth Advisors LLC acquired a new position in Occidental Petroleum in the 1st quarter worth approximately $29,000. Finally, Caitlin John LLC purchased a new position in Occidental Petroleum during the 4th quarter worth approximately $29,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OXY shares. Susquehanna increased their price target on Occidental Petroleum from $67.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. Truist Financial increased their price target on Occidental Petroleum from $57.00 to $63.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Raymond James Financial raised their price objective on Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Zacks Research cut Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Mizuho upped their target price on Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Ten research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $64.83.

Occidental Petroleum Stock Down 1.9%

OXY stock opened at $60.11 on Tuesday. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The firm has a 50-day simple moving average of $54.67 and a 200-day simple moving average of $55.66. The stock has a market capitalization of $60.09 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.79 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The company had revenue of $8.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same period in the previous year, the firm posted $0.39 EPS. Occidental Petroleum’s revenue was up 53.4% compared to the same quarter last year. Equities analysts forecast that Occidental Petroleum Corporation will post 6.09 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 10th. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s payout ratio is presently 16.10%.

Insiders Place Their Bets

In other news, CEO Richard A. Jackson purchased 4,770 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average price of $52.38 per share, with a total value of $249,852.60. Following the transaction, the chief executive officer owned 444,098 shares in the company, valued at $23,261,853.24. The trade was a 1.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

Occidental Petroleum Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.