Foster Victor Wealth Advisors LLC Invests $242,000 in Occidental Petroleum Co. (NYSE:OXY)

Foster Victor Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,888 shares of the oil and gas producer’s stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also bought and sold shares of OXY. Investment Research & Advisory Group Inc. grew its holdings in shares of Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 167 shares during the last quarter. LifeSteps Financial Inc. bought a new stake in Occidental Petroleum in the 1st quarter worth $34,000. Criterion Capital Advisors LLC purchased a new position in shares of Occidental Petroleum in the fourth quarter valued at about $34,000. Able Wealth Management LLC bought a new position in shares of Occidental Petroleum during the fourth quarter valued at about $38,000. Finally, New Covenant Trust Company N.A. purchased a new stake in shares of Occidental Petroleum during the first quarter worth about $44,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Down 0.3 %

NYSE:OXY opened at $57.61 on Friday. The stock has a market cap of $51.08 billion, a price-to-earnings ratio of 15.74 and a beta of 1.61. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The company’s 50 day moving average price is $60.58 and its 200-day moving average price is $62.12. Occidental Petroleum Co. has a 52 week low of $55.04 and a 52 week high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the business posted $0.68 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Occidental Petroleum Co. will post 3.63 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Mizuho boosted their price target on Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Susquehanna upped their target price on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Scotiabank cut their price target on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wolfe Research started coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 target price on the stock. Finally, Stephens reissued an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $71.94.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 1,386,844 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was purchased at an average cost of $59.67 per share, with a total value of $82,752,981.48. Following the completion of the acquisition, the insider now directly owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Berkshire Hathaway Inc purchased 1,386,844 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average cost of $59.67 per share, for a total transaction of $82,752,981.48. Following the purchase, the insider now directly owns 250,583,605 shares in the company, valued at approximately $14,952,323,710.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The disclosure for this sale can be found here. Insiders have purchased a total of 4,656,747 shares of company stock valued at $278,664,028 in the last 90 days. 0.31% of the stock is currently owned by insiders.

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.