Diversify Advisory Services LLC Purchases Shares of 22,461 Occidental Petroleum Corporation $OXY

Diversify Advisory Services LLC acquired a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 22,461 shares of the oil and gas producer’s stock, valued at approximately $1,234,000.

A number of other institutional investors also recently modified their holdings of the company. Axiom Investment Management LLC acquired a new stake in Occidental Petroleum during the 1st quarter valued at $25,000. GKV Capital Management Co. Inc. acquired a new position in Occidental Petroleum in the first quarter worth $26,000. Portus Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum during the first quarter worth $29,000. Caitlin John LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at $29,000. Finally, Activest Wealth Management raised its holdings in shares of Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 305 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $60.06 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. Occidental Petroleum Corporation has a 1-year low of $38.80 and a 1-year high of $67.45. The stock has a market capitalization of $60.04 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.81 and a beta of 0.15. The business has a 50-day moving average price of $54.34 and a two-hundred day moving average price of $55.32.

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

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, September 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. Occidental Petroleum’s dividend payout ratio is presently 16.10%.

Insider Buying and Selling at Occidental Petroleum

In related news, CEO Richard A. Jackson purchased 4,770 shares of Occidental Petroleum stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the transaction, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on OXY. Wall Street Zen raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Barclays dropped their target price on shares of Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Monday. Weiss Ratings raised shares of Occidental Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group lowered their price target on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Finally, Susquehanna upped their price objective on Occidental Petroleum from $67.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $64.83.

About Occidental Petroleum

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.