Axxcess Wealth Management LLC Has $1.93 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

Axxcess Wealth Management LLC reduced its stake in Occidental Petroleum Co. (NYSE:OXY) by 11.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 32,378 shares of the oil and gas producer’s stock after selling 4,236 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,933,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. M&T Bank Corp increased its stake in shares of Occidental Petroleum by 0.6% in the fourth quarter. M&T Bank Corp now owns 40,486 shares of the oil and gas producer’s stock worth $2,418,000 after purchasing an additional 252 shares during the period. Merit Financial Group LLC increased its position in Occidental Petroleum by 20.6% in the 4th quarter. Merit Financial Group LLC now owns 5,322 shares of the oil and gas producer’s stock worth $318,000 after buying an additional 908 shares during the period. Levin Capital Strategies L.P. bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $453,000. Fisher Asset Management LLC increased its position in Occidental Petroleum by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 600,472 shares of the oil and gas producer’s stock worth $35,854,000 after acquiring an additional 7,815 shares during the period. Finally, Seaview Investment Managers LLC raised its stake in Occidental Petroleum by 19.4% during the 4th quarter. Seaview Investment Managers LLC now owns 5,587 shares of the oil and gas producer’s stock valued at $334,000 after purchasing an additional 908 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on OXY shares. Stephens restated an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research note on Thursday, February 15th. Truist Financial raised their price target on shares of Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Susquehanna upped their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Finally, Mizuho lifted their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Trading Down 0.4 %

OXY traded down $0.27 during trading on Friday, hitting $64.39. The company’s stock had a trading volume of 6,771,518 shares, compared to its average volume of 7,759,409. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $57.08 billion, a P/E ratio of 16.47 and a beta of 1.64. The stock’s fifty day moving average price is $64.80 and its 200-day moving average price is $61.42. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The company had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.61 earnings per share. Analysts anticipate that Occidental Petroleum Co. will post 3.81 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.88 annualized dividend and a yield of 1.37%. Occidental Petroleum’s payout ratio is currently 22.51%.

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, 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.