Wealthfront Advisers LLC Has $19.34 Million Position in Occidental Petroleum Corporation $OXY

Wealthfront Advisers LLC lifted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 37.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 398,176 shares of the oil and gas producer’s stock after purchasing an additional 109,002 shares during the period. Wealthfront Advisers LLC’s holdings in Occidental Petroleum were worth $19,339,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Axiom Investment Management LLC acquired a new position in Occidental Petroleum during the 1st quarter worth about $25,000. GKV Capital Management Co. Inc. acquired a new stake in Occidental Petroleum in the 1st quarter valued at about $26,000. Portus Wealth Advisors LLC bought a new position in shares of Occidental Petroleum in the first quarter worth about $29,000. Caitlin John LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter worth approximately $29,000. Finally, Activest Wealth Management grew its stake in shares of Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 305 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $59.82 on Wednesday. The firm’s 50 day moving average price is $54.28 and its two-hundred day moving average price is $55.21. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-week high of $67.45. The stock has a market cap of $59.80 billion, a PE ratio of 9.26, a PEG ratio of 0.79 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating the consensus estimate of $1.83 by $0.57. The company had revenue of $8.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business’s revenue for the quarter was up 53.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. As a group, analysts forecast that Occidental Petroleum Corporation will post 5.81 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, September 10th. Occidental Petroleum’s payout ratio is presently 17.34%.

Analyst Upgrades and Downgrades

OXY has been the subject of several research analyst reports. Citigroup dropped their price objective on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Mizuho increased their price objective on Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Evercore raised Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Wednesday, July 8th. Barclays dropped their target price on Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Zacks Research cut Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $64.83.

Insider Buying and Selling

In related news, CEO Richard A. Jackson acquired 4,770 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Occidental Petroleum Company 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.