Avidian Wealth Solutions LLC Makes New $206,000 Investment in Occidental Petroleum Co. (NYSE:OXY)

Avidian Wealth Solutions LLC purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,175 shares of the oil and gas producer’s stock, valued at approximately $206,000.

A number of other large investors have also recently bought and sold shares of OXY. Investment Research & Advisory Group Inc. lifted its position in shares of Occidental Petroleum by 75.2% in the first 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. TLW Wealth Management LLC bought a new stake in Occidental Petroleum during the fourth quarter worth approximately $28,000. Grove Bank & Trust grew its holdings 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 valued at $31,000 after purchasing an additional 240 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $34,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Occidental Petroleum in the first quarter worth $34,000. 88.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on OXY. HSBC assumed coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 target price on the stock. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Truist Financial downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their target price for the company from $84.00 to $69.00 in a research note on Thursday, May 16th. Morgan Stanley upped their price target on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Mizuho raised their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Eleven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $71.56.

Occidental Petroleum Price Performance

NYSE OXY traded up $0.40 during trading on Wednesday, reaching $61.42. 5,214,725 shares of the company traded hands, compared to its average volume of 7,933,115. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.95. The stock’s 50 day moving average price is $62.18 and its two-hundred day moving average price is $61.88. The company has a market cap of $54.46 billion, a price-to-earnings ratio of 16.78 and a beta of 1.61.

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

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, June 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 334,461 shares of Occidental Petroleum stock in a transaction dated Monday, June 17th. The shares were acquired at an average cost of $59.75 per share, with a total value of $19,984,044.75. Following the acquisition, the insider now directly owns 255,281,524 shares of the company’s stock, valued at $15,253,071,059. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have bought 4,656,747 shares of company stock valued at $278,664,028. 0.48% of the stock is currently owned by 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.