Targeted Financial Services LLC purchased a new position in Occidental Petroleum Corporation (NYSE:OXY – Free Report) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 9,700 shares of the oil and gas producer’s stock, valued at approximately $399,000.
A number of other institutional investors and hedge funds also recently modified their holdings of OXY. Carrera Capital Advisors raised its holdings in Occidental Petroleum by 0.5% in the fourth quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock worth $1,831,000 after purchasing an additional 227 shares during the period. Summit Securities Group LLC increased its holdings in Occidental Petroleum by 18.5% during the 4th quarter. Summit Securities Group LLC now owns 1,469 shares of the oil and gas producer’s stock worth $60,000 after purchasing an additional 229 shares in the last quarter. Apella Capital LLC raised its stake in shares of Occidental Petroleum by 3.4% in the 4th quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer’s stock valued at $289,000 after purchasing an additional 233 shares during the period. Jamison Private Wealth Management Inc. lifted its holdings in shares of Occidental Petroleum by 1.8% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 13,934 shares of the oil and gas producer’s stock valued at $573,000 after purchasing an additional 249 shares in the last quarter. Finally, Woodward Diversified Capital LLC lifted its holdings in shares of Occidental Petroleum by 4.2% in the fourth quarter. Woodward Diversified Capital LLC now owns 6,652 shares of the oil and gas producer’s stock valued at $274,000 after purchasing an additional 270 shares in the last quarter. 88.70% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on OXY shares. Wall Street Zen upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings upgraded Occidental Petroleum from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. BMO Capital Markets raised their price target on shares of Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. Zacks Research raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. Finally, Stephens lifted their target price on Occidental Petroleum from $59.00 to $74.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.74.
Occidental Petroleum Stock Down 0.1%
OXY stock opened at $51.75 on Friday. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. The business’s fifty day moving average price is $56.94 and its two-hundred day moving average price is $51.47. The stock has a market capitalization of $51.47 billion, a price-to-earnings ratio of 13.03 and a beta of 0.14.
Occidental Petroleum (NYSE:OXY – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. On average, equities analysts anticipate that Occidental Petroleum Corporation will post 5.79 earnings per share for the current year.
Occidental Petroleum Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Occidental Petroleum’s dividend payout ratio is 26.20%.
About Occidental Petroleum
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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