GFG Capital LLC Buys 14,435 Shares of Occidental Petroleum Corporation (NYSE:OXY)

GFG Capital LLC boosted its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 35.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,687 shares of the oil and gas producer's stock after purchasing an additional 14,435 shares during the quarter. Occidental Petroleum accounts for about 0.8% of GFG Capital LLC's portfolio, making the stock its 25th largest holding. GFG Capital LLC's holdings in Occidental Petroleum were worth $2,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OXY. Proficio Capital Partners LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $6,337,000. Edgestream Partners L.P. acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $1,008,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $260,000. Daiwa Securities Group Inc. raised its position in shares of Occidental Petroleum by 4.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 85,331 shares of the oil and gas producer's stock valued at $4,216,000 after buying an additional 3,725 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of Occidental Petroleum by 13.5% during the 4th quarter. Johnson Investment Counsel Inc. now owns 10,708 shares of the oil and gas producer's stock valued at $529,000 after purchasing an additional 1,274 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on OXY. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. Piper Sandler decreased their price target on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. TD Cowen lowered shares of Occidental Petroleum from a "buy" rating to a "hold" rating and decreased their price target for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Stephens decreased their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, Hsbc Global Res raised shares of Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $53.62.

Occidental Petroleum Trading Up 1.0%

OXY stock traded up $0.48 during mid-day trading on Friday, reaching $46.33. The company's stock had a trading volume of 7,596,749 shares, compared to its average volume of 11,909,857. The company has a market cap of $45.59 billion, a price-to-earnings ratio of 18.83 and a beta of 0.84. The business's 50 day moving average price is $43.05 and its 200 day moving average price is $45.29. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90. Occidental Petroleum Corporation has a 12 month low of $34.79 and a 12 month high of $64.76.

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

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.07%. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.

About Occidental Petroleum

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.