Wealthsource Partners LLC Buys New Stake in Occidental Petroleum Corporation (OXY)

Wealthsource Partners LLC bought a new position in Occidental Petroleum Corporation (NYSE:OXY) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,234 shares of the oil and gas producer’s stock, valued at approximately $208,000.

A number of other large investors also recently made changes to their positions in OXY. Mn Services Vermogensbeheer B.V. grew its position in Occidental Petroleum by 525.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 127,477 shares of the oil and gas producer’s stock worth $7,632,000 after acquiring an additional 107,097 shares in the last quarter. Ledyard National Bank grew its position in Occidental Petroleum by 28.3% in the second quarter. Ledyard National Bank now owns 3,629 shares of the oil and gas producer’s stock worth $217,000 after acquiring an additional 800 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its position in Occidental Petroleum by 3.1% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 11,762 shares of the oil and gas producer’s stock worth $704,000 after acquiring an additional 350 shares in the last quarter. OLD National Bancorp IN grew its position in Occidental Petroleum by 1.6% in the second quarter. OLD National Bancorp IN now owns 37,784 shares of the oil and gas producer’s stock worth $2,262,000 after acquiring an additional 606 shares in the last quarter. Finally, Congress Asset Management Co. MA grew its position in Occidental Petroleum by 13.5% in the second quarter. Congress Asset Management Co. MA now owns 54,387 shares of the oil and gas producer’s stock worth $3,256,000 after acquiring an additional 6,485 shares in the last quarter. Institutional investors own 80.34% of the company’s stock.

Several research analysts recently issued reports on the stock. Cowen reiterated a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum in a research report on Thursday, September 28th. BMO Capital Markets set a $60.00 price target on shares of Occidental Petroleum and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Scotiabank reissued a “hold” rating and issued a $64.00 price target on shares of Occidental Petroleum in a research note on Wednesday, November 22nd. Mizuho set a $71.00 price target on shares of Occidental Petroleum and gave the stock a “hold” rating in a research note on Friday, November 24th. Finally, Credit Suisse Group initiated coverage on shares of Occidental Petroleum in a research note on Monday. They issued a “neutral” rating and a $62.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.07.

Occidental Petroleum Corporation (OXY) traded up $0.58 during trading on Friday, reaching $70.55. 5,522,500 shares of the company’s stock traded hands, compared to its average volume of 4,500,105. The company has a market capitalization of $53,544.22, a P/E ratio of 199.91, a PEG ratio of 14.09 and a beta of 0.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $73.51.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.15) earnings per share. analysts predict that Occidental Petroleum Corporation will post 0.76 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.37%. The ex-dividend date is Friday, December 8th. Occidental Petroleum’s dividend payout ratio (DPR) is 440.00%.

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Occidental Petroleum Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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