Lombard Odier Asset Management USA Corp acquired a new stake in Occidental Petroleum Corporation (NYSE:OXY – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,933 shares of the oil and gas producer’s stock, valued at approximately $971,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in OXY. Waverly Advisors LLC boosted its holdings in shares of Occidental Petroleum by 33.4% during the 1st quarter. Waverly Advisors LLC now owns 33,169 shares of the oil and gas producer’s stock worth $2,156,000 after buying an additional 8,307 shares during the period. Epoch Investment Partners Inc. acquired a new stake in Occidental Petroleum during the first quarter worth approximately $22,284,000. Morningstar Investment Management LLC boosted its holdings in shares of Occidental Petroleum by 6.3% during the first quarter. Morningstar Investment Management LLC now owns 50,926 shares of the oil and gas producer’s stock worth $3,310,000 after acquiring an additional 2,999 shares during the period. Compound Planning Inc. grew its position in shares of Occidental Petroleum by 7.7% in the first quarter. Compound Planning Inc. now owns 5,743 shares of the oil and gas producer’s stock valued at $373,000 after purchasing an additional 412 shares during the last quarter. Finally, Modern Wealth Management LLC grew its position in shares of Occidental Petroleum by 2.3% in the first quarter. Modern Wealth Management LLC now owns 28,374 shares of the oil and gas producer’s stock valued at $1,766,000 after purchasing an additional 651 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.
Occidental Petroleum Stock Down 0.5%
Shares of NYSE OXY opened at $57.32 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The stock has a market capitalization of $57.02 billion, a P/E ratio of 14.44 and a beta of 0.15. The stock’s fifty day moving average is $54.81 and its 200 day moving average is $53.50.
Occidental Petroleum Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 26.20%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on OXY. Stephens reduced their price target on Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings cut Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Citigroup dropped their target price on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Mizuho boosted their target price on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Finally, Zacks Research downgraded shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Ten analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $64.17.
Get Our Latest Stock Analysis on OXY
Insider Activity
In other Occidental Petroleum news, CEO Richard A. Jackson bought 4,770 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.
Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.
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