Alliance Wealth Advisors LLC UT Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

Alliance Wealth Advisors LLC UT acquired a new position in Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,402 shares of the oil and gas producer’s stock, valued at approximately $203,000.

A number of other institutional investors also recently made changes to their positions in OXY. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Occidental Petroleum in the third quarter worth $26,000. Orion Capital Management LLC bought a new position in shares of Occidental Petroleum during the third quarter valued at about $27,000. TLW Wealth Management LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth about $28,000. Grove Bank & Trust increased its holdings in Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 240 shares during the period. Finally, Criterion Capital Advisors LLC bought a new position in Occidental Petroleum during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $67.78 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $60.08 billion, a price-to-earnings ratio of 17.34 and a beta of 1.64. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18. The firm’s 50-day moving average is $64.27 and its 200 day moving average is $61.33.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the business posted $1.61 earnings per share. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. Research analysts predict that Occidental Petroleum Co. will post 3.85 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were paid a $0.22 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

Analyst Ratings Changes

A number of equities analysts recently commented on OXY shares. Truist Financial upped their target price on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a report on Friday, April 5th. Mizuho raised their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Stephens reissued an “overweight” rating and issued a $74.00 target price on shares of Occidental Petroleum in a report on Thursday, February 15th. Susquehanna lifted their price target on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Finally, HSBC started coverage on Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $71.94.

About Occidental Petroleum

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.