4,221 Shares in Occidental Petroleum Co. (NYSE:OXY) Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,221 shares of the oil and gas producer’s stock, valued at approximately $274,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC bought a new position in Occidental Petroleum during the 3rd quarter worth approximately $27,000. TLW Wealth Management LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $28,000. Grove Bank & Trust boosted its holdings in shares of Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 240 shares during the period. Criterion Capital Advisors LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $34,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $35,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research analyst reports. Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $63.00 to $90.00 in a report on Thursday, April 11th. Wells Fargo & Company boosted their price objective on shares of Occidental Petroleum from $68.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, June 21st. HSBC started coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective on the stock. Barclays started coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective on the stock. Finally, Susquehanna boosted their price objective on shares of Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Eleven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $71.56.

Occidental Petroleum Stock Performance

Shares of OXY traded up $0.34 during trading hours on Friday, hitting $63.03. The company had a trading volume of 8,123,857 shares, compared to its average volume of 8,072,240. The firm has a market cap of $55.88 billion, a price-to-earnings ratio of 17.21 and a beta of 1.59. The business has a fifty day moving average of $63.08 and a 200-day moving average of $61.65. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same period in the prior year, the company posted $1.09 earnings per share. Occidental Petroleum’s revenue was down 17.2% compared to the same quarter last year. Equities analysts anticipate that Occidental Petroleum Co. will post 3.88 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.40%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 334,461 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average cost of $59.75 per share, for a total transaction of $19,984,044.75. Following the completion of the purchase, the insider now owns 255,281,524 shares of the company’s stock, valued at approximately $15,253,071,059. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have acquired 4,656,747 shares of company stock worth $278,664,028. Corporate insiders own 0.31% of the company’s stock.

About Occidental Petroleum

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.