PKO Investment Management Joint Stock Co Increases Position in Occidental Petroleum Co. (NYSE:OXY)

PKO Investment Management Joint Stock Co grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 4.3% during the first quarter, HoldingsChannel reports. The fund owned 24,150 shares of the oil and gas producer’s stock after acquiring an additional 1,000 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Occidental Petroleum were worth $1,192,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OXY. Altshuler Shaham Ltd purchased a new stake in Occidental Petroleum during the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new position in Occidental Petroleum during the 4th quarter worth $27,000. VSM Wealth Advisory LLC purchased a new position in Occidental Petroleum during the 4th quarter worth $27,000. Bernard Wealth Management Corp. purchased a new position in Occidental Petroleum during the 4th quarter worth $32,000. Finally, Grove Bank & Trust grew its stake in Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the topic of several research analyst reports. UBS Group dropped their target price on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their target price on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Hsbc Global Res upgraded Occidental Petroleum to a “hold” rating in a research note on Wednesday, April 16th. Morgan Stanley set a $58.00 target price on Occidental Petroleum and gave the stock an “overweight” rating in a research note on Wednesday, March 26th. Finally, Raymond James downgraded Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $53.14.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $45.32 on Tuesday. The stock has a market cap of $44.60 billion, a PE ratio of 18.57 and a beta of 0.87. The business has a 50-day simple moving average of $41.24 and a 200-day simple moving average of $45.76. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 52-week low of $34.79 and a 52-week high of $64.76.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.13. The business had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. On average, equities analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.12%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.02%.

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.