Spartan Wealth Advisory Services LLC Purchases New Stake in Occidental Petroleum Corporation $OXY

Spartan Wealth Advisory Services LLC purchased a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,015 shares of the oil and gas producer’s stock, valued at approximately $781,000.

Other large investors also recently made changes to their positions in the company. Woodline Partners LP boosted its position in Occidental Petroleum by 40.7% during the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after purchasing an additional 16,506 shares during the period. Marshall Wace LLP purchased a new position in Occidental Petroleum in the second quarter valued at about $4,584,000. Federated Hermes Inc. lifted its stake in shares of Occidental Petroleum by 696.7% during the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock worth $1,008,000 after purchasing an additional 20,985 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Occidental Petroleum by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock worth $4,443,000 after buying an additional 7,285 shares during the period. Finally, AXA S.A. boosted its position in shares of Occidental Petroleum by 24.3% in the second quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock worth $5,740,000 after buying an additional 26,741 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley dropped their target price on Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 26th. Stephens decreased their price target on Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. UBS Group lowered their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Raymond James Financial lifted their price objective on shares of Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, BMO Capital Markets upped their target price on shares of Occidental Petroleum from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Tuesday, April 7th. Ten research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.17.

Occidental Petroleum Trading Up 0.1%

Shares of OXY opened at $54.89 on Monday. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The stock has a 50-day moving average price of $54.80 and a 200 day moving average price of $53.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The company has a market capitalization of $54.60 billion, a P/E ratio of 13.83 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the previous year, the business earned $0.14 EPS. Occidental Petroleum’s revenue for the quarter was down 8.3% compared to the same quarter last year. Sell-side analysts forecast that Occidental Petroleum Corporation will post 5.66 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, June 10th. Occidental Petroleum’s payout ratio is 26.20%.

Insider Transactions at Occidental Petroleum

In related news, CEO Richard A. Jackson purchased 4,770 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Occidental Petroleum Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.