WBI Investments LLC Makes New $2.01 Million Investment in Occidental Petroleum Corporation $OXY

WBI Investments LLC acquired a new stake in Occidental Petroleum Corporation (NYSE:OXY) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 47,877 shares of the oil and gas producer’s stock, valued at approximately $2,011,000.

A number of other institutional investors and hedge funds also recently modified their holdings of OXY. Bailard Inc. acquired a new position in Occidental Petroleum during the first quarter worth approximately $241,000. Kestra Private Wealth Services LLC boosted its stake in shares of Occidental Petroleum by 5.6% during the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock worth $843,000 after acquiring an additional 906 shares during the period. OneAscent Financial Services LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter worth approximately $496,000. Teachers Retirement System of The State of Kentucky raised its stake in Occidental Petroleum by 4.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 52,108 shares of the oil and gas producer’s stock valued at $2,572,000 after acquiring an additional 2,281 shares during the period. Finally, Kennondale Capital Management LLC lifted its holdings in Occidental Petroleum by 169.0% during the 1st quarter. Kennondale Capital Management LLC now owns 43,090 shares of the oil and gas producer’s stock valued at $2,127,000 after purchasing an additional 27,071 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OXY has been the topic of several research analyst reports. Roth Capital increased their price objective on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Wells Fargo & Company lowered their price target on shares of Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating on the stock in a report on Wednesday, November 12th. Melius assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price objective for the company. Piper Sandler decreased their target price on Occidental Petroleum from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 21st. Finally, HSBC lowered their price objective on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.24.

Occidental Petroleum Trading Down 2.3%

Shares of OXY stock opened at $41.76 on Tuesday. The stock has a 50 day simple moving average of $43.66 and a 200 day simple moving average of $43.75. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The stock has a market cap of $41.14 billion, a P/E ratio of 24.71 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.16. The firm had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 EPS. On average, research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 70.59%.

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.