Avaii Wealth Management LLC Boosts Holdings in Occidental Petroleum Co. (NYSE:OXY)

Avaii Wealth Management LLC lifted its position in Occidental Petroleum Co. (NYSE:OXY) by 18.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,083 shares of the oil and gas producer’s stock after purchasing an additional 1,765 shares during the quarter. Avaii Wealth Management LLC’s holdings in Occidental Petroleum were worth $662,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in OXY. DAVENPORT & Co LLC increased its stake in Occidental Petroleum by 82.6% in the third quarter. DAVENPORT & Co LLC now owns 11,341 shares of the oil and gas producer’s stock valued at $736,000 after acquiring an additional 5,130 shares during the last quarter. Avestar Capital LLC bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $200,000. Brookstone Capital Management raised its holdings in shares of Occidental Petroleum by 6.9% during the 3rd quarter. Brookstone Capital Management now owns 13,085 shares of the oil and gas producer’s stock valued at $870,000 after buying an additional 845 shares in the last quarter. Aquila Investment Management LLC boosted its stake in Occidental Petroleum by 16.7% in the third quarter. Aquila Investment Management LLC now owns 28,000 shares of the oil and gas producer’s stock worth $1,817,000 after buying an additional 4,000 shares in the last quarter. Finally, First Pacific Financial bought a new position in Occidental Petroleum during the third quarter valued at approximately $45,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the subject of a number of research reports. Mizuho upped their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Truist Financial upped their price target on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Morgan Stanley lifted their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $63.00 to $90.00 in a report on Thursday, April 11th. Finally, StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $71.94.

Occidental Petroleum Stock Up 0.9 %

Occidental Petroleum stock traded up $0.62 during mid-day trading on Monday, reaching $68.40. The stock had a trading volume of 2,678,094 shares, compared to its average volume of 8,532,141. The company has a market capitalization of $60.63 billion, a price-to-earnings ratio of 17.33 and a beta of 1.64. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. The company has a 50-day moving average price of $64.27 and a two-hundred day moving average price of $61.33.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The firm had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 earnings per share. On average, analysts expect that Occidental Petroleum Co. will post 3.85 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were issued a $0.22 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.88 annualized dividend and a yield of 1.29%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.51%.

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.