Spartan Wealth Advisory Services LLC Acquires New Position in Occidental Petroleum Corporation $OXY

Spartan Wealth Advisory Services LLC acquired a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,015 shares of the oil and gas producer’s stock, valued at approximately $781,000.

A number of other large investors also recently bought and sold shares of the company. Portus Wealth Advisors LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter worth approximately $29,000. Caitlin John LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at approximately $29,000. Activest Wealth Management raised its position in shares of 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 lifted its stake 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 purchasing an additional 465 shares during the last quarter. Finally, Binnacle Investments Inc bought a new position in Occidental Petroleum during the third quarter worth $35,000. Institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In related news, CEO Richard A. Jackson purchased 4,770 shares of Occidental Petroleum stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average cost of $52.38 per share, with a total value of $249,852.60. Following the purchase, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on OXY shares. Barclays upgraded shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $59.00 to $72.00 in a research note on Tuesday, May 26th. The Goldman Sachs Group reduced their price target on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Capital One Financial boosted their price objective on shares of Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Wolfe Research lifted their target price on Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Finally, Mizuho upped their target price on Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $64.17.

Occidental Petroleum Trading Up 0.1%

NYSE:OXY opened at $54.89 on Monday. The stock has a market cap of $54.60 billion, a price-to-earnings ratio of 13.83 and a beta of 0.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The business has a fifty day moving average of $54.80 and a 200-day moving average of $53.04.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The company’s revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. Equities analysts predict that Occidental Petroleum Corporation will post 5.66 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

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

Occidental Petroleum 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.