Solitude Financial Services Purchases 4,574 Shares of Occidental Petroleum Corporation $OXY

Solitude Financial Services raised its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 52.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,353 shares of the oil and gas producer’s stock after acquiring an additional 4,574 shares during the period. Occidental Petroleum makes up about 0.2% of Solitude Financial Services’ investment portfolio, making the stock its 26th largest position. Solitude Financial Services’ holdings in Occidental Petroleum were worth $561,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of OXY. Grove Bank & Trust grew its holdings in shares of Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 407 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Occidental Petroleum in the first quarter worth about $39,000. Spectrum Wealth Counsel LLC grew its holdings in shares of Occidental Petroleum by 5,000.0% in the first quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 1,000 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Occidental Petroleum in the first quarter worth about $54,000. Finally, Trifecta Capital Advisors LLC grew its holdings in shares of Occidental Petroleum by 4,393.9% in the first quarter. Trifecta Capital Advisors LLC now owns 1,483 shares of the oil and gas producer’s stock worth $73,000 after purchasing an additional 1,450 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on OXY shares. Bank of America upped their price target on shares of Occidental Petroleum from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday. Hsbc Global Res upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday. Melius Research assumed coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target on the stock. UBS Group dropped their target price on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $52.43.

Occidental Petroleum Stock Performance

OXY stock opened at $45.39 on Tuesday. The firm has a market cap of $44.68 billion, a price-to-earnings ratio of 26.86 and a beta of 0.95. The firm has a 50-day simple moving average of $45.62 and a two-hundred day simple moving average of $43.74. Occidental Petroleum Corporation has a one year low of $34.78 and a one year high of $56.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. On average, equities analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 56.80%.

Occidental Petroleum 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.