Axxcess Wealth Management LLC Acquires 7,906 Shares of Occidental Petroleum Corporation $OXY

Axxcess Wealth Management LLC increased its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 48.3% during the second quarter, Holdings Channel.com reports. The fund owned 24,290 shares of the oil and gas producer’s stock after purchasing an additional 7,906 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,020,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Grove Bank & Trust increased its position in Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 407 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Occidental Petroleum during the first quarter worth about $39,000. Spectrum Wealth Counsel LLC increased its position in Occidental Petroleum by 5,000.0% during the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 1,000 shares during the period. Ransom Advisory Ltd bought a new position in Occidental Petroleum during the first quarter worth about $54,000. Finally, Trifecta Capital Advisors LLC increased its position in Occidental Petroleum by 4,393.9% during the first quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer’s stock worth $73,000 after acquiring an additional 1,450 shares during the period. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OXY has been the topic of several recent analyst reports. Evercore ISI decreased their target price on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a report on Friday, October 3rd. Wells Fargo & Company decreased their target price on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 15th. Scotiabank raised their target price on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Hsbc Global Res raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $52.61.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $41.00 on Friday. The company has a market cap of $40.36 billion, a price-to-earnings ratio of 24.26 and a beta of 0.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $45.53 and a 200 day simple moving average of $43.49. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $53.20.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 EPS. Research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.3%. Occidental Petroleum’s dividend payout ratio is presently 56.80%.

Occidental Petroleum 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.