Manning & Napier Advisors LLC Boosts Stock Position in Occidental Petroleum Corporation (NYSE:OXY)

Manning & Napier Advisors LLC boosted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 36.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,091 shares of the oil and gas producer's stock after buying an additional 34,402 shares during the quarter. Manning & Napier Advisors LLC's holdings in Occidental Petroleum were worth $6,323,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of OXY. Altshuler Shaham Ltd purchased a new position in Occidental Petroleum in the fourth quarter worth $26,000. Whipplewood Advisors LLC purchased a new position in Occidental Petroleum during the 4th quarter worth $27,000. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum during the 4th quarter valued at about $27,000. Bernard Wealth Management Corp. purchased a new stake in Occidental Petroleum in the fourth quarter valued at about $32,000. Finally, Grove Bank & Trust raised its stake in Occidental Petroleum by 129.2% in the first 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. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Performance

NYSE:OXY traded up $0.73 during trading hours on Thursday, reaching $43.15. The company had a trading volume of 11,931,719 shares, compared to its average volume of 11,681,968. 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 Corporation has a 1-year low of $34.79 and a 1-year high of $64.76. The business's 50 day moving average price is $42.15 and its 200-day moving average price is $45.54. The firm has a market cap of $42.47 billion, a PE ratio of 17.54 and a beta of 0.87.

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

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be given a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.22%. Occidental Petroleum's dividend payout ratio (DPR) is currently 39.02%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on OXY shares. TD Cowen downgraded shares of Occidental Petroleum from a "buy" rating to a "hold" rating and cut their price objective for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Susquehanna cut their price target on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Scotiabank cut shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price target for the company. in a report on Friday, April 11th. Wall Street Zen lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Finally, Raymond James Financial downgraded Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from $81.00 to $64.00 in a research report on Monday, March 10th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $53.38.

Occidental Petroleum 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.