Neo Ivy Capital Management Acquires New Shares in Occidental Petroleum Co. (NYSE:OXY)

Neo Ivy Capital Management acquired a new stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 29,088 shares of the oil and gas producer's stock, valued at approximately $1,437,000.

Several other large investors also recently modified their holdings of OXY. Howard Capital Management Inc. grew its position in Occidental Petroleum by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer's stock worth $209,000 after acquiring an additional 216 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock worth $58,000 after acquiring an additional 248 shares during the last quarter. Park Avenue Securities LLC grew its position in Occidental Petroleum by 3.2% during the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock worth $398,000 after acquiring an additional 250 shares during the last quarter. Horizon Investments LLC grew its position in Occidental Petroleum by 2.3% during the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock worth $554,000 after acquiring an additional 257 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in Occidental Petroleum by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer's stock worth $2,863,000 after acquiring an additional 290 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Up 0.8%

Shares of OXY stock traded up $0.31 during trading hours on Tuesday, reaching $41.60. The company had a trading volume of 7,672,973 shares, compared to its average volume of 11,236,057. The company has a 50 day moving average of $42.05 and a 200 day moving average of $46.57. 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 $40.94 billion, a price-to-earnings ratio of 17.05 and a beta of 0.81. Occidental Petroleum Co. has a 1-year low of $34.79 and a 1-year high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted 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 company 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%. The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS. On average, equities research analysts anticipate that Occidental Petroleum Co. 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. Stockholders of record on Tuesday, June 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is currently 39.02%.

Analyst Ratings Changes

A number of equities research analysts recently commented on OXY shares. TD Cowen lowered Occidental Petroleum from a "buy" rating to a "hold" rating and decreased their price target for the stock from $68.00 to $45.00 in a research report on Tuesday, April 8th. Barclays increased their price target on Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Piper Sandler decreased their price target on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Stephens reduced their price objective on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, Susquehanna reduced their price objective on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Three research 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. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $53.14.

About Occidental Petroleum

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.