Providence Wealth Advisors LLC trimmed its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,015 shares of the oil and gas producer’s stock after selling 569 shares during the period. Providence Wealth Advisors LLC’s holdings in Occidental Petroleum were worth $547,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bank purchased a new stake in Occidental Petroleum in the 4th quarter worth about $28,000. Liberty Wealth Management LLC purchased a new stake in Occidental Petroleum in the 4th quarter worth about $34,000. Harvest Group Wealth Management LLC purchased a new stake in Occidental Petroleum in the 1st quarter worth about $34,000. Cornerstone Advisors Inc. increased its holdings in Occidental Petroleum by 110.9% in the 1st quarter. Cornerstone Advisors Inc. now owns 694 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 365 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in Occidental Petroleum in the 1st quarter worth about $46,000. Institutional investors own 81.32% of the company’s stock.
OXY has been the subject of a number of recent analyst reports. Mizuho set a $208.00 target price on Amgen and gave the company a “buy” rating in a report on Monday, April 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 265 ($3.46) target price on shares of WM Morrison Supermarkets in a report on Monday, April 29th. Wells Fargo & Co lowered Occidental Petroleum from an “outperform” rating to a “market perform” rating in a report on Monday, May 20th. KeyCorp reaffirmed a “hold” rating on shares of Silgan in a report on Wednesday, April 24th. Finally, Raymond James reaffirmed an “average” rating and set a $0.75 target price on shares of in a report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $74.30.
Shares of OXY traded down $0.49 during trading hours on Wednesday, reaching $51.98. 3,439,250 shares of the company’s stock traded hands, compared to its average volume of 6,809,200. The company has a market capitalization of $38.72 billion, a PE ratio of 10.37, a PEG ratio of 3.00 and a beta of 0.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.23. The firm’s 50 day simple moving average is $50.51. Occidental Petroleum Co. has a 12 month low of $47.00 and a 12 month high of $84.55.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.92 EPS. Analysts expect that Occidental Petroleum Co. will post 3.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date is Monday, September 9th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.78. Occidental Petroleum’s dividend payout ratio (DPR) is 62.28%.
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 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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