Mirae Asset Global Investments Co. Ltd. Raises Holdings in Occidental Petroleum Corporation (NYSE:OXY)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 30.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,919 shares of the oil and gas producer's stock after buying an additional 17,208 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Occidental Petroleum were worth $3,609,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in OXY. Altshuler Shaham Ltd bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $26,000. VSM Wealth Advisory LLC purchased a new stake in Occidental Petroleum during the 4th quarter valued at $27,000. Bernard Wealth Management Corp. bought a new stake in Occidental Petroleum in the fourth quarter worth $32,000. Grove Bank & Trust boosted its stake in Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after buying an additional 407 shares during the period. Finally, American National Bank & Trust purchased a new stake in shares of Occidental Petroleum in the first quarter valued at $39,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OXY shares. Scotiabank cut Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 target price on the stock. in a research note on Friday, April 11th. Stephens reduced their price target on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. UBS Group cut their price target on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their target price on Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of "Hold" and an average target price of $53.38.

Occidental Petroleum Stock Down 0.1%

Shares of Occidental Petroleum stock traded down $0.06 on Thursday, reaching $43.87. 4,579,235 shares of the company were exchanged, compared to its average volume of 11,751,771. Occidental Petroleum Corporation has a 1-year low of $34.79 and a 1-year high of $64.76. The stock's 50 day moving average price is $42.40 and its 200-day moving average price is $45.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. The company has a market cap of $43.17 billion, a P/E ratio of 17.83 and a beta of 0.84.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping 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 firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company's revenue was up 13.9% compared to the same quarter last year. As a group, equities analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.19%. Occidental Petroleum's dividend payout ratio is currently 39.02%.

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.