swisspartners Advisors Ltd acquired a new position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 121,680 shares of the oil and gas producer's stock, valued at approximately $6,006,000. Occidental Petroleum accounts for 5.6% of swisspartners Advisors Ltd's investment portfolio, making the stock its 11th biggest holding.
Several other hedge funds have also recently bought and sold shares of OXY. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $26,000. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum during the fourth quarter worth $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at $27,000. Bernard Wealth Management Corp. bought a new position in shares of Occidental Petroleum in the 4th quarter valued at $32,000. Finally, Grove Bank & Trust raised its holdings in shares of 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 in the last quarter. 88.70% of the stock is owned by institutional investors.
Occidental Petroleum Price Performance
Shares of OXY opened at $43.15 on Friday. The business has a 50-day moving average of $42.15 and a 200-day moving average of $45.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. The company has a market capitalization of $42.47 billion, a price-to-earnings ratio of 17.54 and a beta of 0.87. Occidental Petroleum Corporation has a 1 year low of $34.79 and a 1 year high of $64.76.
Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The firm had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. During the same quarter last year, the business earned $0.63 EPS. The company's revenue was up 13.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.
Occidental Petroleum Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.22%. Occidental Petroleum's payout ratio is 39.02%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on OXY. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a research note on Wednesday, April 16th. Raymond James Financial downgraded shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from $81.00 to $64.00 in a research note on Monday, March 10th. Barclays lifted their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. TD Cowen downgraded shares of Occidental Petroleum from a "buy" rating to a "hold" rating and dropped their price objective for the company from $68.00 to $45.00 in a research note on Tuesday, April 8th. Finally, Citigroup boosted their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Occidental Petroleum currently has a consensus rating of "Hold" and an average target price of $53.38.
Check Out Our Latest Stock Analysis on OXY
Occidental Petroleum Company Profile
(
Free Report)
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.
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