International Assets Investment Management LLC Takes Position in Occidental Petroleum Corporation (NYSE:OXY)

International Assets Investment Management LLC acquired a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 94,765 shares of the oil and gas producer's stock, valued at approximately $4,678,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $26,000. Whipplewood Advisors LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter worth $27,000. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at $27,000. Bernard Wealth Management Corp. acquired a new stake in Occidental Petroleum during the 4th quarter worth about $32,000. Finally, Grove Bank & Trust raised its stake in shares of Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after buying an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Down 0.0%

Shares of Occidental Petroleum stock traded down $0.01 on Wednesday, reaching $42.47. 13,614,968 shares of the company were exchanged, compared to its average volume of 11,633,516. The stock's 50 day moving average price is $42.00 and its 200-day moving average price is $45.60. The company has a market cap of $41.80 billion, a P/E ratio of 17.26 and a beta of 0.87. Occidental Petroleum Corporation has a 1-year low of $34.79 and a 1-year high of $64.76. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79.

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 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 analyst estimates of $6.97 billion. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The company's revenue was up 13.9% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. As a group, equities analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.26%. Occidental Petroleum's dividend payout ratio is currently 39.02%.

Analyst Ratings Changes

Several research analysts recently weighed in on OXY shares. Wall Street Zen cut Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. decreased their price objective on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Raymond James Financial downgraded Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Finally, Citigroup boosted their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target 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.