BCS Wealth Management Invests $229,000 in Occidental Petroleum Co. (NYSE:OXY)

BCS Wealth Management acquired a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,517 shares of the oil and gas producer’s stock, valued at approximately $229,000.

Several other hedge funds have also modified their holdings of OXY. Orion Capital Management LLC acquired a new position in Occidental Petroleum during the 3rd quarter valued at about $27,000. TLW Wealth Management LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter worth about $28,000. Grove Bank & Trust raised its position in shares of 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 purchasing an additional 240 shares during the period. Criterion Capital Advisors LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $34,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $35,000. 88.70% of the stock is owned by institutional investors.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of Occidental Petroleum stock in a transaction on Monday, June 17th. The shares were purchased at an average cost of $59.75 per share, for a total transaction of $19,984,044.75. Following the completion of the purchase, the insider now directly owns 255,281,524 shares of the company’s stock, valued at approximately $15,253,071,059. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have purchased 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Stock Down 2.4 %

OXY stock opened at $60.92 on Friday. The business’s fifty day moving average price is $63.32 and its two-hundred day moving average price is $61.48. The stock has a market capitalization of $54.01 billion, a price-to-earnings ratio of 16.64 and a beta of 1.59. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. 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 (NYSE:OXY) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping 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 analysts’ expectations of $6.70 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The business’s revenue was down 17.2% on a year-over-year basis. On average, equities analysts anticipate that Occidental Petroleum Co. will post 3.87 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.88 annualized dividend and a yield of 1.44%. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OXY shares. Morgan Stanley lifted 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. Truist Financial cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating and cut their price objective for the company from $84.00 to $69.00 in a research report on Thursday, May 16th. Wells Fargo & Company lifted their price target on Occidental Petroleum from $68.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday. Citigroup cut their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Finally, Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Eleven analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $71.56.

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.