Copperwynd Financial LLC Buys Shares of 4,301 Occidental Petroleum Co. (NYSE:OXY)

Copperwynd Financial LLC purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,301 shares of the oil and gas producer’s stock, valued at approximately $262,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Investment Research & Advisory Group Inc. lifted its stake in 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 valued at $25,000 after buying an additional 167 shares during the period. LifeSteps Financial Inc. acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $34,000. Able Wealth Management LLC bought a new position in Occidental Petroleum during the 4th quarter worth approximately $38,000. New Covenant Trust Company N.A. acquired a new position in Occidental Petroleum during the first quarter valued at approximately $44,000. Finally, LRI Investments LLC acquired a new stake in Occidental Petroleum in the first quarter worth $44,000. 88.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research analyst reports. Wolfe Research assumed coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price target for the company. Susquehanna decreased their target price on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Mizuho dropped their price target on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday. Finally, Stephens reissued an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday, August 8th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $70.21.

Occidental Petroleum Price Performance

NYSE OXY opened at $51.03 on Monday. Occidental Petroleum Co. has a 12-month low of $49.75 and a 12-month high of $71.18. The firm’s 50 day moving average is $55.76 and its 200-day moving average is $60.91. The company has a market capitalization of $46.21 billion, a PE ratio of 13.94 and a beta of 1.58. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.57 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.72%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction that occurred on 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 owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

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.