HBW Advisory Services LLC bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 9,129 shares of the oil and gas producer's stock, valued at approximately $451,000.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new stake in Occidental Petroleum during the 4th quarter valued at $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $27,000. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum in the fourth quarter worth about $27,000. Bernard Wealth Management Corp. bought a new stake in Occidental Petroleum in the fourth quarter valued at about $32,000. Finally, American National Bank & Trust bought a new position in Occidental Petroleum during the 1st quarter worth approximately $39,000. 88.70% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on OXY. Scotiabank cut 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. Piper Sandler lowered their price objective on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Wells Fargo & Company reduced their price target on Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Finally, Stephens lowered their price target on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $53.14.
Check Out Our Latest Research Report on Occidental Petroleum
Occidental Petroleum Trading Down 0.3%
Occidental Petroleum stock traded down $0.13 during midday trading on Thursday, reaching $41.78. The stock had a trading volume of 7,009,829 shares, compared to its average volume of 11,275,620. Occidental Petroleum Co. has a twelve month low of $34.79 and a twelve month high of $64.76. 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 firm has a market cap of $41.12 billion, a price-to-earnings ratio of 17.12 and a beta of 0.81. The firm's fifty day simple moving average is $41.05 and its two-hundred day simple moving average is $46.19.
Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates 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 16.33% and a net margin of 11.37%. Occidental Petroleum's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. Equities analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.
Occidental Petroleum Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 2.30%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is currently 39.02%.
About Occidental Petroleum
(
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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