Stratos Wealth Partners LTD. Buys 205 Shares of Occidental Petroleum Co. (NYSE:OXY)

Posted by Defense World Staff on Jul 18th, 2023

Stratos Wealth Partners LTD. grew its position in Occidental Petroleum Co. (NYSE:OXY – Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,593 shares of the oil and gas producer’s stock after purchasing an additional 205 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Occidental Petroleum were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ironwood Wealth Management LLC. bought a new position in shares of Occidental Petroleum in the first quarter worth about $334,000. Cibc World Market Inc. grew its holdings in Occidental Petroleum by 47.2% during the 1st quarter. Cibc World Market Inc. now owns 55,697 shares of the oil and gas producer’s stock valued at $3,160,000 after buying an additional 17,859 shares in the last quarter. Prudential PLC bought a new position in shares of Occidental Petroleum during the first quarter worth $1,124,000. Sequoia Financial Advisors LLC purchased a new position in Occidental Petroleum during the first quarter valued at $313,000. Finally, Candriam Luxembourg S.C.A. lifted its stake in Occidental Petroleum by 12.4% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 54,540 shares of the oil and gas producer’s stock worth $3,094,000 after purchasing an additional 6,018 shares in the last quarter. 78.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 260,769 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, June 28th. The stock was bought at an average price of $57.02 per share, with a total value of $14,869,048.38. Following the acquisition, the insider now owns 224,129,192 shares of the company’s stock, valued at approximately $12,779,846,527.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders acquired 6,469,323 shares of company stock valued at $376,269,362. 0.35% of the stock is owned by company insiders.

Occidental Petroleum Trading Down 0.2 %

OXY opened at $59.29 on Tuesday. The company has a market capitalization of $52.87 billion, a P/E ratio of 6.79, a PEG ratio of 0.56 and a beta of 1.75. The stock’s fifty day moving average is $58.67 and its two-hundred day moving average is $60.97. The company has a quick ratio of 0.78, a current ratio of 1.09 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 52 week low of $55.51 and a 52 week high of $77.13.

Occidental Petroleum (NYSE:OXY – Get Free Report) last issued its quarterly earnings data on Tuesday, May 9th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.21). The company had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.37 billion. Occidental Petroleum had a net margin of 27.06% and a return on equity of 45.10%. The business’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same period last year, the firm earned $2.12 EPS. Analysts forecast that Occidental Petroleum Co. will post 4.84 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 9th were issued a $0.18 dividend. The ex-dividend date was Thursday, June 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.21%. Occidental Petroleum’s payout ratio is 8.25%.

Analyst Ratings Changes

OXY has been the subject of a number of research reports. Morgan Stanley increased their price target on Occidental Petroleum from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Stephens initiated coverage on Occidental Petroleum in a research note on Thursday, June 29th. They set an “overweight” rating and a $72.00 price target for the company. TD Cowen raised Occidental Petroleum from a “market perform” rating to an “outperform” rating and increased their price target for the company from $63.00 to $70.00 in a research note on Tuesday, March 28th. 51job reissued a “maintains” rating on shares of Occidental Petroleum in a research note on Tuesday, June 13th. Finally, Raymond James upped their price objective on Occidental Petroleum from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, April 21st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average price target of $70.24.

About Occidental Petroleum

(Free Report)

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, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.