Sequoia Financial Advisors LLC grew its holdings in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 55.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,095 shares of the oil and gas producer’s stock after purchasing an additional 13,882 shares during the period. Sequoia Financial Advisors LLC’s holdings in Occidental Petroleum were worth $2,541,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in OXY. Portus Wealth Advisors LLC acquired a new stake in Occidental Petroleum in the 1st quarter valued at $29,000. Whipplewood Advisors LLC bought a new position in shares of Occidental Petroleum in the 1st quarter valued at about $42,000. SJS Investment Consulting Inc. grew its holdings in shares of Occidental Petroleum by 148.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 696 shares of the oil and gas producer’s stock valued at $45,000 after acquiring an additional 416 shares in the last quarter. Caitlin John LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $29,000. Finally, Activest Wealth Management raised its holdings in Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 305 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.
Insider Activity
In related news, CEO Richard A. Jackson bought 4,770 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average price of $52.38 per share, with a total value of $249,852.60. Following the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This represents a 1.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.
Occidental Petroleum Stock Performance
Occidental Petroleum (NYSE:OXY – Get Free Report) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the firm earned $0.14 EPS. The firm’s revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts expect that Occidental Petroleum Corporation will post 5.93 earnings per share for the current year.
Occidental Petroleum Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. Occidental Petroleum’s dividend payout ratio is presently 26.20%.
Analyst Ratings Changes
A number of research analysts have weighed in on OXY shares. JPMorgan Chase & Co. decreased their price target on Occidental Petroleum from $64.00 to $63.00 in a research note on Thursday, May 7th. Jefferies Financial Group increased their price objective on Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a report on Monday, April 13th. Wells Fargo & Company raised their target price on shares of Occidental Petroleum from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Mizuho boosted their target price on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Stephens cut their price target on shares of Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a research note on Tuesday. Ten research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $64.26.
Read Our Latest Stock Analysis on OXY
About Occidental Petroleum
Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.
Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.
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