51,488 Shares in Occidental Petroleum Corporation $OXY Bought by CreativeOne Wealth LLC

CreativeOne Wealth LLC bought a new position in Occidental Petroleum Corporation (NYSE:OXY — Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 51,488 shares of the oil and gas producer’s stock, valued at approximately $2,541,000.

A number of other hedge funds have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Occidental Petroleum by 20.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer’s stock worth $81,000 after acquiring an additional 274 shares during the last quarter. Freestone Capital Holdings LLC boosted its position in shares of Occidental Petroleum by 4.2% in the first quarter. Freestone Capital Holdings LLC now owns 7,521 shares of the oil and gas producer’s stock worth $371,000 after buying an additional 304 shares during the period. World Investment Advisors boosted its position in shares of Occidental Petroleum by 6.6% in the first quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer’s stock worth $242,000 after buying an additional 306 shares during the period. Koshinski Asset Management Inc. boosted its position in shares of Occidental Petroleum by 1.0% in the first quarter. Koshinski Asset Management Inc. now owns 32,736 shares of the oil and gas producer’s stock worth $1,616,000 after buying an additional 309 shares during the period. Finally, Aaron Wealth Advisors LLC boosted its position in shares of Occidental Petroleum by 4.9% in the first quarter. Aaron Wealth Advisors LLC now owns 6,663 shares of the oil and gas producer’s stock worth $329,000 after buying an additional 310 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OXY. Wells Fargo & Company decreased their target price on Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 15th. Melius began coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 target price for the company. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Piper Sandler raised their target price on Occidental Petroleum from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.65.

Read Our Latest Stock Report on Occidental Petroleum

Occidental Petroleum Price Performance

OXY opened at $47.53 on Friday. The stock has a market cap of $46.79 billion, a price-to-earnings ratio of 28.12 and a beta of 0.91. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $57.57. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average price of $44.26 and a 200 day moving average price of $44.07.

Occidental Petroleum (NYSE:OXY — Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. Analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. Occidental Petroleum’s payout ratio is currently 56.80%.

Occidental Petroleum Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Corporation (NYSE:OXY — Free Report).

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