Chemistry Wealth Management LLC Has $1.93 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

Chemistry Wealth Management LLC boosted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 34.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,651 shares of the oil and gas producer’s stock after buying an additional 7,524 shares during the period. Chemistry Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,927,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in Occidental Petroleum during the third quarter worth about $27,000. TLW Wealth Management LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $28,000. Grove Bank & Trust grew its stake in Occidental Petroleum by 86.0% during the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 240 shares in the last quarter. Criterion Capital Advisors LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $34,000. Finally, BKM Wealth Management LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $35,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 0.4 %

Shares of NYSE:OXY traded down $0.23 during mid-day trading on Wednesday, hitting $62.87. The company had a trading volume of 5,255,567 shares, compared to its average volume of 8,099,164. The firm has a fifty day moving average price of $63.14 and a 200 day moving average price of $61.64. The company has a market capitalization of $55.74 billion, a PE ratio of 17.18 and a beta of 1.59. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (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 during the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter last year, the firm posted $1.09 EPS. Occidental Petroleum’s revenue was down 17.2% compared to the same quarter last year. As a group, research analysts forecast that Occidental Petroleum Co. will post 3.88 EPS for the current year.

Occidental Petroleum Dividend Announcement

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 given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.40%. The ex-dividend date is Monday, June 10th. Occidental Petroleum’s payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Barclays assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Occidental Petroleum from $68.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, June 21st. Citigroup reduced their price target on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Finally, Truist Financial downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price target for the company from $84.00 to $69.00 in a research note on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $71.56.

Insider Activity at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 1,386,844 shares of the business’s stock in a transaction on Friday, June 7th. The shares were purchased at an average cost of $59.67 per share, with a total value of $82,752,981.48. Following the acquisition, the insider now directly owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders acquired 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is owned by company insiders.

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.