Modern Wealth Management LLC Has $317,000 Stock Position in Occidental Petroleum Corporation $OXY

Modern Wealth Management LLC lowered its stake in Occidental Petroleum Corporation (NYSE:OXY) by 15.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,430 shares of the oil and gas producer’s stock after selling 1,143 shares during the period. Modern Wealth Management LLC’s holdings in Occidental Petroleum were worth $317,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in Occidental Petroleum in the 4th quarter valued at about $32,000. Grove Bank & Trust boosted its holdings in Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 407 shares during the period. American National Bank & Trust bought a new stake in Occidental Petroleum in the 1st quarter valued at about $39,000. Caitong International Asset Management Co. Ltd bought a new stake in Occidental Petroleum in the 1st quarter valued at about $39,000. Finally, Spectrum Wealth Counsel LLC boosted its holdings in Occidental Petroleum by 5,000.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 0.4%

OXY opened at $45.49 on Tuesday. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $56.49. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average of $44.97 and a 200-day moving average of $43.76. The stock has a market cap of $44.78 billion, a PE ratio of 26.92 and a beta of 1.04.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. During the same period in the prior year, the company posted $1.03 earnings per share. Occidental Petroleum’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Occidental Petroleum’s dividend payout ratio is 56.80%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Wells Fargo & Company cut their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. Melius Research assumed coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective for the company. Scotiabank boosted their price objective on shares of Occidental Petroleum from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Finally, Melius initiated coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $54.70.

Occidental Petroleum Company Profile

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.