Aaron Wealth Advisors LLC Acquires 953 Shares of Occidental Petroleum Co. (NYSE:OXY)

Aaron Wealth Advisors LLC raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 21.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,353 shares of the oil and gas producer’s stock after buying an additional 953 shares during the period. Aaron Wealth Advisors LLC’s holdings in Occidental Petroleum were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. lifted its position in Occidental Petroleum by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after acquiring an additional 532,318 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Occidental Petroleum by 20.1% in the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after purchasing an additional 277,462 shares in the last quarter. Himalaya Capital Management LLC purchased a new position in shares of Occidental Petroleum during the second quarter valued at approximately $92,433,000. Cooke & Bieler LP grew its holdings in Occidental Petroleum by 53.1% during the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock worth $91,398,000 after buying an additional 503,173 shares in the last quarter. Finally, Clean Energy Transition LLP purchased a new stake in Occidental Petroleum in the 1st quarter valued at $67,601,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of analyst reports. Susquehanna cut their price objective on shares of Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a report on Friday. Evercore ISI reduced their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research report on Monday, September 30th. Stephens reissued an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. Barclays reduced their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Bank of America started coverage on Occidental Petroleum in a report on Thursday. They set a “neutral” rating and a $57.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $65.72.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $51.66 on Friday. The company has a 50-day moving average price of $54.08 and a two-hundred day moving average price of $59.81. Occidental Petroleum Co. has a twelve month low of $49.75 and a twelve month high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $45.80 billion, a PE ratio of 14.11 and a beta of 1.57.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. Occidental Petroleum’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. Equities analysts forecast that Occidental Petroleum Co. will post 3.48 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.70%. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

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.