Journey Advisory Group LLC Grows Stake in Occidental Petroleum Corporation $OXY

Journey Advisory Group LLC grew its stake in Occidental Petroleum Corporation (NYSE:OXY) by 72.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,326 shares of the oil and gas producer’s stock after acquiring an additional 3,492 shares during the quarter. Journey Advisory Group LLC’s holdings in Occidental Petroleum were worth $350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Northeast Financial Consultants Inc increased its holdings in shares of Occidental Petroleum by 0.4% in the 1st quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer’s stock valued at $2,890,000 after acquiring an additional 242 shares during the period. Inspire Investing LLC increased its holdings in shares of Occidental Petroleum by 3.8% in the 2nd quarter. Inspire Investing LLC now owns 6,720 shares of the oil and gas producer’s stock valued at $282,000 after acquiring an additional 247 shares during the period. S.A. Mason LLC boosted its position in shares of Occidental Petroleum by 5.9% in the 2nd quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer’s stock worth $223,000 after purchasing an additional 295 shares in the last quarter. Moody National Bank Trust Division boosted its position in shares of Occidental Petroleum by 2.0% in the 2nd quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer’s stock worth $644,000 after purchasing an additional 300 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in shares of Occidental Petroleum by 3.7% in the 2nd quarter. Verdence Capital Advisors LLC now owns 8,437 shares of the oil and gas producer’s stock worth $354,000 after purchasing an additional 300 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Piper Sandler raised their price objective on Occidental Petroleum from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Hsbc Global Res raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Scotiabank lifted their price target on Occidental Petroleum from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. lifted their price target on Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Finally, Roth Capital lifted their price target on Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $52.39.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $41.05 on Tuesday. The stock has a market cap of $40.41 billion, a PE ratio of 24.29 and a beta of 0.95. The business has a 50-day simple moving average of $45.41 and a 200-day simple moving average of $43.39. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $53.20.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Occidental Petroleum’s dividend payout ratio is presently 56.80%.

Occidental Petroleum Company 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.