90,179 Shares in Occidental Petroleum Corporation $OXY Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC bought a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, HoldingsChannel.com reports. The firm bought 90,179 shares of the oil and gas producer’s stock, valued at approximately $4,380,000.

A number of other hedge funds have also modified their holdings of OXY. Woodline Partners LP lifted its stake in shares of Occidental Petroleum by 40.7% during the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock valued at $2,817,000 after buying an additional 16,506 shares in the last quarter. Marshall Wace LLP purchased a new stake in Occidental Petroleum in the 2nd quarter worth $4,584,000. Federated Hermes Inc. raised its holdings in Occidental Petroleum by 696.7% during the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock valued at $1,008,000 after acquiring an additional 20,985 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Occidental Petroleum by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock valued at $4,443,000 after acquiring an additional 7,285 shares in the last quarter. Finally, AXA S.A. boosted its stake in shares of Occidental Petroleum by 24.3% in the second quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock worth $5,740,000 after acquiring an additional 26,741 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Occidental Petroleum news, CEO Richard A. Jackson purchased 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $59.12 on Friday. The firm has a market cap of $59.10 billion, a PE ratio of 9.15, a PEG ratio of 0.94 and a beta of 0.15. The stock has a 50 day moving average of $55.18 and a 200 day moving average of $55.95. 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 released its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.57. The business had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The company’s revenue was up 53.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. On average, research analysts expect 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. Investors of record on Thursday, September 10th will be given 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 is Thursday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 16.10%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Occidental Petroleum from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. lowered their price target on Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Truist Financial increased their price objective on shares of Occidental Petroleum from $57.00 to $63.00 and gave the company a “hold” rating in a report on Monday, August 10th. Stephens reduced their price objective on shares of 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, Weiss Ratings cut shares of Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Ten research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $64.83.

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.