Crestline Management LP Purchases Shares of 14,831 Occidental Petroleum Co. (NYSE:OXY)

Crestline Management LP purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 14,831 shares of the oil and gas producer's stock, valued at approximately $733,000.

A number of other large investors also recently modified their holdings of OXY. Principal Financial Group Inc. boosted its holdings in shares of Occidental Petroleum by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 773,762 shares of the oil and gas producer's stock valued at $39,880,000 after buying an additional 51,042 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Occidental Petroleum by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 77,080 shares of the oil and gas producer's stock valued at $3,973,000 after acquiring an additional 926 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Occidental Petroleum by 5.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 23,368 shares of the oil and gas producer's stock worth $1,155,000 after purchasing an additional 1,274 shares during the last quarter. Czech National Bank raised its holdings in shares of Occidental Petroleum by 6.8% in the 4th quarter. Czech National Bank now owns 146,485 shares of the oil and gas producer's stock valued at $7,238,000 after purchasing an additional 9,322 shares during the period. Finally, Brookstone Capital Management lifted its stake in Occidental Petroleum by 13.3% in the 4th quarter. Brookstone Capital Management now owns 11,630 shares of the oil and gas producer's stock valued at $575,000 after purchasing an additional 1,367 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

NYSE:OXY traded up $0.81 on Friday, hitting $42.25. The company had a trading volume of 11,641,949 shares, compared to its average volume of 11,080,615. Occidental Petroleum Co. has a 52 week low of $34.79 and a 52 week high of $64.76. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $39.71 billion, a price-to-earnings ratio of 17.32 and a beta of 0.81. The firm has a 50 day moving average of $42.96 and a two-hundred day moving average of $47.19.

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

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is currently 39.34%.

Analyst Ratings Changes

Several analysts have issued reports on OXY shares. Scotiabank lowered Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective on the stock. in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their price target on Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a report on Friday. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. Citigroup cut their target price on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Finally, Hsbc Global Res upgraded shares of Occidental Petroleum to a "hold" rating in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Occidental Petroleum has an average rating of "Hold" and a consensus target price of $54.05.

Occidental Petroleum 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.