GAMMA Investing LLC Acquires 331,129 Shares of Occidental Petroleum Co. (NYSE:OXY)

GAMMA Investing LLC raised its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 6,237.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 336,438 shares of the oil and gas producer's stock after purchasing an additional 331,129 shares during the quarter. GAMMA Investing LLC's holdings in Occidental Petroleum were worth $16,607,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. U.S. Capital Wealth Advisors LLC boosted its position in shares of Occidental Petroleum by 4.5% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 12,181 shares of the oil and gas producer's stock worth $602,000 after buying an additional 523 shares in the last quarter. Stratos Wealth Advisors LLC raised its holdings in shares of Occidental Petroleum by 60.3% during the 4th quarter. Stratos Wealth Advisors LLC now owns 11,771 shares of the oil and gas producer's stock valued at $582,000 after buying an additional 4,428 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Occidental Petroleum by 42.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,711 shares of the oil and gas producer's stock valued at $2,754,000 after acquiring an additional 16,982 shares in the last quarter. Choreo LLC raised its holdings in Occidental Petroleum by 3.5% in the fourth quarter. Choreo LLC now owns 61,770 shares of the oil and gas producer's stock valued at $3,014,000 after acquiring an additional 2,084 shares in the last quarter. Finally, Silver Oak Securities Incorporated acquired a new stake in Occidental Petroleum during the fourth quarter valued at approximately $210,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of OXY stock traded up $0.69 during trading hours on Monday, reaching $43.23. 9,759,560 shares of the company were exchanged, compared to its average volume of 11,319,640. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The company has a market cap of $42.55 billion, a price-to-earnings ratio of 17.72 and a beta of 0.87. The stock's fifty day moving average is $40.76 and its two-hundred day moving average is $46.00. Occidental Petroleum Co. has a fifty-two week low of $34.79 and a fifty-two week high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. The firm had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. Sell-side analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share 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 paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OXY. Mizuho lowered their price objective on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Stephens decreased their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Piper Sandler cut their price objective on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. Finally, Wells Fargo & Company cut their target price on shares of Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Three 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $53.14.

Occidental Petroleum Company 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.