Sharpepoint LLC Grows Holdings in Occidental Petroleum Corporation (NYSE:OXY)

Sharpepoint LLC increased its position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 67.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,519 shares of the oil and gas producer's stock after buying an additional 31,206 shares during the period. Occidental Petroleum accounts for 3.4% of Sharpepoint LLC's holdings, making the stock its 4th biggest holding. Sharpepoint LLC's holdings in Occidental Petroleum were worth $3,826,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Horizon Investments LLC grew its holdings in shares of Occidental Petroleum by 2.3% during the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock valued at $554,000 after buying an additional 257 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Occidental Petroleum by 20.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock valued at $81,000 after buying an additional 274 shares during the last quarter. World Investment Advisors grew its holdings in shares of Occidental Petroleum by 6.6% during the first quarter. World Investment Advisors now owns 4,912 shares of the oil and gas producer's stock valued at $242,000 after buying an additional 306 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in shares of Occidental Petroleum by 1.0% during the first quarter. Koshinski Asset Management Inc. now owns 32,736 shares of the oil and gas producer's stock valued at $1,616,000 after buying an additional 309 shares during the last quarter. Finally, Seaview Investment Managers LLC grew its holdings in shares of Occidental Petroleum by 6.8% during the fourth quarter. Seaview Investment Managers LLC now owns 4,891 shares of the oil and gas producer's stock valued at $242,000 after buying an additional 310 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Price Performance

Occidental Petroleum stock traded up $0.50 during midday trading on Friday, reaching $46.35. 5,004,224 shares of the stock were exchanged, compared to its average volume of 11,846,215. The company's fifty day moving average is $42.94 and its 200-day moving average is $45.32. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. The firm has a market cap of $45.61 billion, a PE ratio of 18.83 and a beta of 0.84. Occidental Petroleum Corporation has a 52 week low of $34.79 and a 52 week high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly 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. The firm 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 business's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. On average, sell-side analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 yield of 2.07%. Occidental Petroleum's payout ratio is 39.02%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Scotiabank boosted their price target on shares of Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Friday. Mizuho cut their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the stock an "overweight" rating in a report on Wednesday, March 26th. 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 report on Tuesday, April 22nd. Finally, 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 report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $53.62.

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.