Kingsview Wealth Management LLC Lowers Stake in Occidental Petroleum Corporation $OXY

by · The Cerbat Gem

Kingsview Wealth Management LLC trimmed its holdings in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 14.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 11,233 shares of the oil and gas producer’s stock after selling 1,891 shares during the period. Kingsview Wealth Management LLC’s holdings in Occidental Petroleum were worth $472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in OXY. Kestra Private Wealth Services LLC lifted its position in Occidental Petroleum by 5.6% during the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock worth $843,000 after acquiring an additional 906 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Occidental Petroleum by 14.5% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 192,049 shares of the oil and gas producer’s stock worth $9,480,000 after purchasing an additional 24,390 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Occidental Petroleum during the first quarter worth $742,000. Carnegie Investment Counsel grew its position in Occidental Petroleum by 2.1% in the 1st quarter. Carnegie Investment Counsel now owns 56,506 shares of the oil and gas producer’s stock valued at $2,789,000 after buying an additional 1,136 shares during the last quarter. Finally, Journey Strategic Wealth LLC increased its stake in Occidental Petroleum by 8.1% in the 1st quarter. Journey Strategic Wealth LLC now owns 5,130 shares of the oil and gas producer’s stock valued at $253,000 after buying an additional 385 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on OXY shares. HSBC lowered their target price on shares of Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Mizuho lifted their price objective on Occidental Petroleum from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Piper Sandler dropped their target price on Occidental Petroleum from $47.00 to $46.00 and set a “neutral” rating on the stock in a research report on Tuesday. Morgan Stanley reissued an “equal weight” rating and issued a $52.00 price target on shares of Occidental Petroleum in a report on Monday, August 18th. Finally, Hsbc Global Res raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.24.

View Our Latest Research Report on OXY

Occidental Petroleum Price Performance

OXY stock opened at $41.47 on Friday. The firm has a 50 day moving average of $43.34 and a 200-day moving average of $43.75. The company has a market cap of $40.86 billion, a price-to-earnings ratio of 24.54 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $53.20.

Occidental Petroleum (NYSE:OXY – Get Free Report) last released its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.16. The firm had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.66 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.Occidental Petroleum’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the business posted $1.00 EPS. As a group, equities analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s payout ratio is 70.59%.

About Occidental Petroleum

(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.

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