Net Worth Advisory Group Acquires New Shares in Occidental Petroleum Co. (NYSE:OXY)

Net Worth Advisory Group bought a new stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 15,036 shares of the oil and gas producer's stock, valued at approximately $775,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. lifted its position in Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer's stock worth $25,000 after buying an additional 167 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in Occidental Petroleum during the 1st quarter worth about $44,000. LRI Investments LLC bought a new stake in Occidental Petroleum during the 1st quarter worth about $44,000. Strategic Financial Concepts LLC bought a new stake in Occidental Petroleum during the 2nd quarter worth about $53,000. Finally, Riverview Trust Co bought a new stake in Occidental Petroleum during the 1st quarter worth about $63,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Scotiabank lowered their price target on Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. StockNews.com cut Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Saturday, October 5th. Wolfe Research assumed coverage on Occidental Petroleum in a research note on Thursday, July 18th. They issued an "outperform" rating and a $81.00 price target for the company. UBS Group lowered their price target on Occidental Petroleum from $70.00 to $59.00 and set a "neutral" rating for the company in a research note on Wednesday, September 18th. Finally, Barclays lowered their price target on Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating for the company in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $65.72.

Occidental Petroleum Stock Performance

OXY stock traded down $0.06 during trading hours on Friday, hitting $51.66. 9,433,698 shares of the stock were exchanged, compared to its average volume of 14,018,002. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $45.80 billion, a P/E ratio of 14.11 and a beta of 1.57. The company has a 50-day simple moving average of $54.08 and a two-hundred day simple moving average of $59.81. Occidental Petroleum Co. has a 12 month low of $49.75 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to analysts' expectations of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS. On average, analysts forecast that Occidental Petroleum Co. will post 3.48 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Tuesday, September 10th. Occidental Petroleum's payout ratio is currently 24.04%.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is owned by company insiders.

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.