Kingsview Wealth Management LLC Raises Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Kingsview Wealth Management LLC grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 22.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 21,450 shares of the oil and gas producer’s stock after buying an additional 3,937 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,106,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OXY. Fortitude Family Office LLC raised its holdings in Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Occidental Petroleum during the third quarter worth approximately $32,000. LRI Investments LLC acquired a new stake in Occidental Petroleum in the first quarter valued at about $44,000. New Covenant Trust Company N.A. purchased a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $44,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Occidental Petroleum during the second quarter worth about $53,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. TD Cowen cut their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Susquehanna dropped their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Truist Financial dropped their price target on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. BMO Capital Markets cut their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Finally, Citigroup dropped their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.25.

Occidental Petroleum Price Performance

NYSE OXY opened at $49.81 on Wednesday. Occidental Petroleum Co. has a 1 year low of $48.42 and a 1 year high of $71.18. The business’s fifty day moving average is $51.72 and its two-hundred day moving average is $56.72. The stock has a market capitalization of $46.74 billion, a P/E ratio of 12.97 and a beta of 1.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is 22.92%.

About Occidental Petroleum

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.