18,613 Occidental Petroleum Corporation $OXY Shares Purchased by Parcion Private Wealth LLC

Parcion Private Wealth LLC grew its stake in Occidental Petroleum Corporation (NYSE:OXY) by 276.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,354 shares of the oil and gas producer’s stock after purchasing an additional 18,613 shares during the period. Parcion Private Wealth LLC’s holdings in Occidental Petroleum were worth $1,403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in OXY. Soltis Investment Advisors LLC grew its position in Occidental Petroleum by 116.7% during the third quarter. Soltis Investment Advisors LLC now owns 13,535 shares of the oil and gas producer’s stock worth $749,000 after buying an additional 7,288 shares in the last quarter. Founders Financial Securities LLC acquired a new position in Occidental Petroleum in the 3rd quarter valued at approximately $223,000. North Dakota State Investment Board raised its holdings in Occidental Petroleum by 5.9% in the 3rd quarter. North Dakota State Investment Board now owns 22,210 shares of the oil and gas producer’s stock valued at $1,229,000 after acquiring an additional 1,240 shares in the last quarter. VestGen Advisors LLC lifted its position in shares of Occidental Petroleum by 98.1% in the 3rd quarter. VestGen Advisors LLC now owns 14,282 shares of the oil and gas producer’s stock worth $790,000 after acquiring an additional 7,074 shares during the period. Finally, William Mack & Associates Inc. bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth approximately $27,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 1.6%

Shares of NYSE OXY opened at $64.01 on Friday. The stock has a market cap of $63.99 billion, a PE ratio of 9.91, a PEG ratio of 0.74 and a beta of 0.24. The business has a fifty day moving average of $60.18 and a two-hundred day moving average of $55.91. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-week high of $67.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The company had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the previous year, the company earned $0.39 EPS. The firm’s revenue for the quarter was up 53.4% compared to the same quarter last year. As a group, equities research analysts expect that Occidental Petroleum Corporation will post 6.81 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 10th will be given a $0.28 dividend. The ex-dividend date is Thursday, December 10th. This represents a $1.12 dividend on an annualized basis and a yield of 1.7%. Occidental Petroleum’s payout ratio is 17.34%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OXY. Evercore raised Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Wednesday, July 8th. Roth Capital upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Friday, October 16th. The Goldman Sachs Group lifted their price target on shares of Occidental Petroleum from $69.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, October 27th. Citigroup lowered their price target on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Finally, Seaport Research Partners assumed coverage on shares of Occidental Petroleum in a research note on Thursday, September 3rd. They issued a “buy” rating and a $73.00 price objective for the company. Twelve analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $67.88.

Occidental Petroleum Profile

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.