Inspire Trust Co. N.A. Boosts Stake in Occidental Petroleum Co. (NYSE:OXY)

Inspire Trust Co. N.A. lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 30.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the oil and gas producer's stock after buying an additional 17,635 shares during the period. Inspire Trust Co. N.A.'s holdings in Occidental Petroleum were worth $3,706,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum in the fourth quarter worth approximately $27,000. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum in the 4th quarter worth approximately $27,000. Atala Financial Inc purchased a new stake in Occidental Petroleum during the 4th quarter valued at $40,000. Finally, Millstone Evans Group LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at $42,000. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Down 1.8%

NYSE OXY opened at $41.13 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $64.76. The stock's 50 day moving average is $42.43 and its 200 day moving average is $46.83. The stock has a market cap of $40.48 billion, a PE ratio of 16.86 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released 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 firm had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Research analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 2.33%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OXY. UBS Group reduced their price objective on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Raymond James cut shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Barclays boosted their target price on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Scotiabank downgraded shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price target on the stock. in a research report on Friday, April 11th. Finally, Stephens cut 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 report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of "Hold" and an average 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.

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