Womack Financial LLC Makes New $590,000 Investment in Occidental Petroleum Corporation $OXY

Womack Financial LLC purchased a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,144 shares of the oil and gas producer’s stock, valued at approximately $590,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in OXY. Axiom Investment Management LLC purchased a new stake in Occidental Petroleum in the first quarter worth about $25,000. GKV Capital Management Co. Inc. purchased a new position in Occidental Petroleum during the 1st quarter valued at about $26,000. Portus Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at about $29,000. Hara Capital LLC purchased a new stake in shares of Occidental Petroleum in the 2nd quarter worth approximately $25,000. Finally, Ballast Advisors LLC purchased a new stake in shares of Occidental Petroleum in the 1st quarter worth approximately $39,000. 88.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OXY has been the subject of a number of recent research reports. Mizuho boosted their price objective on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group cut their price target on Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Capital One Financial boosted their price target on Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Stephens dropped their price objective on Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Finally, Morgan Stanley cut their target price on Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 26th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $64.83.

Insiders Place Their Bets

In other Occidental Petroleum news, CEO Richard A. Jackson purchased 4,770 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Occidental Petroleum Price Performance

NYSE OXY opened at $60.11 on Tuesday. The firm’s fifty day simple moving average is $54.67 and its two-hundred day simple moving average is $55.66. The firm has a market capitalization of $60.09 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.79 and a beta of 0.15. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The firm had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue for the quarter was up 53.4% compared to the same quarter last year. Analysts forecast that Occidental Petroleum Corporation will post 6.09 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be issued a $0.28 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, September 10th. Occidental Petroleum’s dividend payout ratio is 16.10%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.