Chicago Partners Investment Group LLC Raises Stake in Occidental Petroleum Corporation $OXY

Chicago Partners Investment Group LLC boosted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 243.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 19,137 shares of the oil and gas producer’s stock after purchasing an additional 13,564 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Occidental Petroleum were worth $1,244,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Caitlin John LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $29,000. Portus Wealth Advisors LLC acquired a new stake in Occidental Petroleum in the 1st quarter valued at about $29,000. Activest Wealth Management increased its holdings in Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 305 shares in the last quarter. Rossby Financial LCC raised its position in Occidental Petroleum by 155.0% during the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 465 shares during the last quarter. Finally, Binnacle Investments Inc purchased a new stake in shares of Occidental Petroleum in the third quarter valued at about $35,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OXY. Evercore upgraded shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Wednesday, July 8th. Morgan Stanley reduced 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. Barclays upgraded Occidental Petroleum from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $59.00 to $72.00 in a report on Tuesday, May 26th. Mizuho raised their price target on Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, Stephens cut their price target on Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a report on Tuesday. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $64.26.

Key Headlines Impacting Occidental Petroleum

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Stephens still rates Occidental Petroleum overweight and its new $69 price target implies meaningful upside from recent trading levels. Occidental Petroleum (NYSE:OXY) Given New $69.00 Price Target at Stephens
• Positive Sentiment: Multiple recent notes highlighted Occidental Petroleum as potentially undervalued, suggesting investors may see room for a rebound if earnings and oil-market conditions remain supportive. Occidental Petroleum (OXY) Stock Slides as Market Rises: Facts to Know Before You Trade
• Neutral Sentiment: Analysts appear split on Occidental Petroleum and other energy names, indicating uncertainty rather than a clear bullish or bearish catalyst. Analysts Conflicted on These Energy Names: Occidental Petroleum (OXY), Williams Co (WMB) and Targa Resources (TRGP)
• Neutral Sentiment: Commentary on Occidental Petroleum’s sensitivity to oil-market shifts may be relevant for investors, but it does not signal a direct company-specific catalyst. What Connects Occidental Petroleum (NYSE:OXY) to Oil Market Shifts?
• Negative Sentiment: OXY traded lower as the broader market rose, and a modest decline in the share price may reflect profit-taking and weaker near-term momentum. Occidental Petroleum (OXY) Stock Slides as Market Rises: Facts to Know Before You Trade

Insider Activity

In related news, CEO Richard A. Jackson bought 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $53.77 on Thursday. The company has a market cap of $53.49 billion, a P/E ratio of 13.55 and a beta of 0.15. The business has a fifty day simple moving average of $54.77 and a 200-day simple moving average of $52.84. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.46. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 earnings per share. Equities research analysts forecast that Occidental Petroleum Corporation will post 5.88 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio is presently 26.20%.

About Occidental Petroleum

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.