Occidental Petroleum Corporation $OXY Shares Acquired by Parcion Private Wealth LLC

Parcion Private Wealth LLC increased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 276.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,354 shares of the oil and gas producer’s stock after purchasing an additional 18,613 shares during the quarter. Parcion Private Wealth LLC’s holdings in Occidental Petroleum were worth $1,403,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Soltis Investment Advisors LLC increased its stake in shares of Occidental Petroleum by 116.7% in the third quarter. Soltis Investment Advisors LLC now owns 13,535 shares of the oil and gas producer’s stock worth $749,000 after acquiring an additional 7,288 shares during the last quarter. Founders Financial Securities LLC acquired a new stake in Occidental Petroleum during the third quarter valued at $223,000. North Dakota State Investment Board grew its stake in Occidental Petroleum by 5.9% in the third quarter. North Dakota State Investment Board now owns 22,210 shares of the oil and gas producer’s stock valued at $1,229,000 after purchasing an additional 1,240 shares in the last quarter. VestGen Advisors LLC grew its stake in Occidental Petroleum by 98.1% in the third quarter. VestGen Advisors LLC now owns 14,282 shares of the oil and gas producer’s stock valued at $790,000 after purchasing an additional 7,074 shares in the last quarter. Finally, William Mack & Associates Inc. acquired a new position in Occidental Petroleum in the 3rd quarter worth about $27,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OXY. Piper Sandler initiated coverage on Occidental Petroleum in a report on Tuesday, October 27th. They set a “neutral” rating and a $69.00 price target for the company. Barclays dropped their price objective on Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Citigroup cut their price objective on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, July 17th. Morgan Stanley lifted their target price on shares of Occidental Petroleum from $69.00 to $71.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. Finally, Wells Fargo & Company boosted their target price on shares of Occidental Petroleum from $79.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, September 14th. Twelve analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $67.88.

Occidental Petroleum Trading Up 1.6%

Occidental Petroleum stock opened at $64.01 on Friday. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The firm has a market capitalization of $63.99 billion, a PE ratio of 9.91, a PEG ratio of 0.74 and a beta of 0.24. The business’s 50-day simple moving average is $60.18 and its 200-day simple moving average is $55.91.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. The firm had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the prior year, the company earned $0.39 EPS. The firm’s revenue for the quarter was up 53.4% compared to the same quarter last year. Equities research analysts forecast that Occidental Petroleum Corporation will post 6.81 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 10th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, December 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.7%. Occidental Petroleum’s payout ratio is 17.34%.

Occidental Petroleum Profile

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.