Guardian Wealth Management Inc. Invests $869,000 in Occidental Petroleum Co. (NYSE:OXY)

Guardian Wealth Management Inc. purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,781 shares of the oil and gas producer’s stock, valued at approximately $869,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Investment Research & Advisory Group Inc. raised its stake in shares of Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 167 shares during the last quarter. LifeSteps Financial Inc. acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $34,000. Able Wealth Management LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth $38,000. New Covenant Trust Company N.A. acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $44,000. Finally, LRI Investments LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $44,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.1 %

Shares of NYSE:OXY opened at $51.05 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. Occidental Petroleum Co. has a 1 year low of $49.90 and a 1 year high of $71.18. The stock has a market capitalization of $46.23 billion, a P/E ratio of 13.95 and a beta of 1.58. The stock has a 50-day simple moving average of $57.85 and a 200-day simple moving average of $61.57.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $6.93 billion. During the same quarter in the previous year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts forecast that Occidental Petroleum Co. will post 3.71 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup dropped their price objective on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. UBS Group lifted their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Scotiabank dropped their price objective on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Susquehanna dropped their price objective on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, Truist Financial dropped their price objective on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $72.27.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Berkshire Hathaway Inc purchased 334,461 shares of Occidental Petroleum stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average cost of $59.75 per share, for a total transaction of $19,984,044.75. Following the completion of the transaction, the insider now directly owns 255,281,524 shares in the company, valued at approximately $15,253,071,059. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.