49,047 Shares in Occidental Petroleum Corporation (NYSE:OXY) Bought by Eos Management L.P.

Eos Management L.P. purchased a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,047 shares of the oil and gas producer's stock, valued at approximately $2,421,000. Occidental Petroleum accounts for approximately 1.1% of Eos Management L.P.'s portfolio, making the stock its 23rd largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Benchmark Investment Advisors LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at approximately $642,000. Vanguard Group Inc. boosted its position in shares of Occidental Petroleum by 18.1% in the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after acquiring an additional 10,434,098 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Occidental Petroleum by 9.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer's stock worth $78,813,000 after acquiring an additional 140,528 shares during the last quarter. Invesco Ltd. raised its stake in Occidental Petroleum by 25.2% during the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock valued at $314,133,000 after purchasing an additional 1,278,389 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Occidental Petroleum by 7.5% in the 4th quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock valued at $349,085,000 after purchasing an additional 491,797 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

NYSE:OXY opened at $46.33 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. The firm has a market cap of $45.59 billion, a PE ratio of 18.83 and a beta of 0.84. Occidental Petroleum Corporation has a 12 month low of $34.79 and a 12 month high of $64.76. The company's 50-day moving average price is $43.05 and its two-hundred day moving average price is $45.29.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.74 by $0.13. The business had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. During the same period in the previous year, the business earned $0.63 EPS. Occidental Petroleum's revenue was up 13.9% compared to the same quarter last year. On average, equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's payout ratio is presently 39.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OXY shares. Susquehanna cut their price objective on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Citigroup upped their price target on Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Stephens reduced their price objective on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price objective on Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Mizuho reduced their target price on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $53.62.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.