Wealth Advisory Solutions LLC Has $8.04 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

Wealth Advisory Solutions LLC reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 8.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 156,047 shares of the oil and gas producer's stock after selling 14,254 shares during the quarter. Occidental Petroleum comprises about 2.2% of Wealth Advisory Solutions LLC's investment portfolio, making the stock its 11th largest holding. Wealth Advisory Solutions LLC's holdings in Occidental Petroleum were worth $8,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Investment Research & Advisory Group Inc. raised its position in Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer's stock worth $25,000 after acquiring an additional 167 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in Occidental Petroleum in the first quarter worth about $44,000. LRI Investments LLC bought a new stake in Occidental Petroleum in the first quarter worth about $44,000. Strategic Financial Concepts LLC bought a new stake in Occidental Petroleum in the second quarter worth about $53,000. Finally, Riverview Trust Co bought a new stake in Occidental Petroleum in the first quarter worth about $63,000. 88.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.31% of the company's stock.

Occidental Petroleum Stock Up 0.3 %

Shares of NYSE OXY traded up $0.16 during trading hours on Monday, hitting $51.82. The stock had a trading volume of 8,860,503 shares, compared to its average volume of 9,150,410. The company has a market capitalization of $45.95 billion, a P/E ratio of 14.16 and a beta of 1.57. The firm's 50-day moving average price is $54.08 and its two-hundred day moving average price is $59.75. Occidental Petroleum Co. has a 52 week low of $49.75 and a 52 week high of $71.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion during 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 firm's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. Analysts anticipate that Occidental Petroleum Co. will post 3.48 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OXY shares. BMO Capital Markets dropped their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating on the stock in a research report on Friday, October 4th. Evercore ISI dropped their price target on Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating on the stock in a research note on Monday, September 30th. Wolfe Research initiated coverage on Occidental Petroleum in a research note on Thursday, July 18th. They issued an "outperform" rating and a $81.00 price target on the stock. Susquehanna dropped their price target on Occidental Petroleum from $78.00 to $77.00 and set a "positive" rating on the stock in a research note on Friday. Finally, Stephens reissued an "overweight" rating and issued a $76.00 price target on shares of Occidental Petroleum in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $65.72.

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.