Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by Northwest Wealth Management LLC

Northwest Wealth Management LLC increased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,484 shares of the oil and gas producer’s stock after purchasing an additional 2,257 shares during the period. Occidental Petroleum accounts for approximately 2.4% of Northwest Wealth Management LLC’s portfolio, making the stock its 10th largest position. Northwest Wealth Management LLC’s holdings in Occidental Petroleum were worth $2,941,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of OXY. Geode Capital Management LLC boosted its stake in Occidental Petroleum by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 9,152,375 shares of the oil and gas producer’s stock valued at $560,842,000 after acquiring an additional 316,507 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Occidental Petroleum by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,690,890 shares of the oil and gas producer’s stock valued at $410,668,000 after acquiring an additional 331,307 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Occidental Petroleum by 6.2% in the first quarter. Wells Fargo & Company MN now owns 3,146,934 shares of the oil and gas producer’s stock valued at $208,327,000 after acquiring an additional 184,500 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Occidental Petroleum by 1.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,000,508 shares of the oil and gas producer’s stock valued at $198,634,000 after acquiring an additional 53,412 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Occidental Petroleum by 1.5% in the first quarter. Swiss National Bank now owns 2,727,743 shares of the oil and gas producer’s stock valued at $180,577,000 after acquiring an additional 41,200 shares in the last quarter. Hedge funds and other institutional investors own 81.32% of the company’s stock.

NYSE OXY traded down $2.07 during trading hours on Friday, hitting $51.10. 440,953 shares of the stock were exchanged, compared to its average volume of 6,629,844. The company has a market cap of $39.46 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 3.05 and a beta of 0.83. Occidental Petroleum Co. has a 12-month low of $47.00 and a 12-month high of $83.35. The stock has a 50-day moving average of $50.65. The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share. On average, analysts expect that Occidental Petroleum Co. will post 3.44 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.79 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a yield of 6.18%. The ex-dividend date is Monday, September 9th. Occidental Petroleum’s dividend payout ratio is currently 62.28%.

In other news, CFO Cedric W. Burgher purchased 4,100 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $49.61 per share, with a total value of $203,401.00. Following the completion of the acquisition, the chief financial officer now directly owns 76,842 shares of the company’s stock, valued at approximately $3,812,131.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Marcia E. Backus purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average cost of $48.09 per share, with a total value of $480,900.00. Following the completion of the acquisition, the senior vice president now directly owns 101,248 shares of the company’s stock, valued at $4,869,016.32. The disclosure for this purchase can be found here. Insiders have purchased 80,660 shares of company stock valued at $3,893,851 over the last three months. 0.15% of the stock is currently owned by corporate insiders.

Several equities analysts have issued reports on OXY shares. Jefferies Financial Group downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their price objective for the company from $74.00 to $66.00 in a research note on Monday, April 29th. Zacks Investment Research downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Wolfe Research downgraded shares of Occidental Petroleum from an “outperform” rating to a “peer perform” rating and decreased their price objective for the company from $85.00 to $65.00 in a research note on Monday, May 13th. KeyCorp downgraded shares of Occidental Petroleum from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, April 24th. Finally, Mizuho downgraded shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $83.00 to $70.00 in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company’s stock. Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $74.30.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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