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

Aaron Wealth Advisors LLC grew its holdings in Occidental Petroleum Co. (NYSE:OXY) by 21.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,353 shares of the oil and gas producer’s stock after purchasing 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 SEC filing.

Other institutional investors also recently modified their holdings of the company. Investment Research & Advisory Group Inc. grew its position 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 acquiring an additional 167 shares during the last quarter. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum during the 1st quarter valued at approximately $44,000. LRI Investments LLC acquired a new position in Occidental Petroleum during the 1st quarter worth approximately $44,000. Riverview Trust Co bought a new position in Occidental Petroleum in the 1st quarter valued at approximately $63,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Occidental Petroleum in the third quarter valued at approximately $87,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target for the company. Wolfe Research initiated coverage on Occidental Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price for the company. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Evercore ISI dropped their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. Finally, Stephens reiterated an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $65.72.

Occidental Petroleum Price Performance

OXY stock opened at $51.66 on Friday. 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 company’s fifty day simple moving average is $54.08 and its 200 day simple moving average is $59.81. Occidental Petroleum Co. has a 12-month low of $49.75 and a 12-month high of $71.18. The firm has a market cap of $45.80 billion, a price-to-earnings ratio of 14.11 and a beta of 1.57.

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

Occidental Petroleum Dividend Announcement

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

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.

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.