Occidental Petroleum Corporation (NYSE:OXY) Stake Raised by Sharpepoint LLC

Sharpepoint LLC lifted its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 67.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,519 shares of the oil and gas producer's stock after acquiring an additional 31,206 shares during the quarter. Occidental Petroleum accounts for approximately 3.4% of Sharpepoint LLC's investment portfolio, making the stock its 4th largest holding. Sharpepoint LLC's holdings in Occidental Petroleum were worth $3,826,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of OXY. Altshuler Shaham Ltd acquired a new position in Occidental Petroleum during the 4th quarter valued at about $26,000. VSM Wealth Advisory LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $27,000. Bernard Wealth Management Corp. acquired a new stake in Occidental Petroleum in the 4th quarter worth approximately $32,000. Grove Bank & Trust increased its stake in 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 purchasing an additional 407 shares in the last quarter. Finally, American National Bank & Trust purchased a new position in shares of Occidental Petroleum in the first quarter worth $39,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Up 0.6%

Occidental Petroleum stock traded up $0.30 during midday trading on Thursday, reaching $45.87. The company's stock had a trading volume of 7,657,473 shares, compared to its average volume of 11,872,835. Occidental Petroleum Corporation has a fifty-two week low of $34.79 and a fifty-two week high of $64.76. The company has a market cap of $45.14 billion, a P/E ratio of 18.64 and a beta of 0.84. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. The business has a 50-day simple moving average of $42.83 and a 200-day simple moving average of $45.33.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter last year, the company posted $0.63 earnings per share. The business's quarterly revenue was up 13.9% compared to the same quarter last year. On average, research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal 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 dividend of $0.24 per share. 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 2.09%. Occidental Petroleum's payout ratio is currently 39.02%.

Wall Street Analysts Forecast Growth

OXY has been the topic of several analyst reports. UBS Group cut their price target on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Citigroup lifted their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Piper Sandler lowered their price target on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a report 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 objective for the company. in a report on Friday, April 11th. Finally, Wells Fargo & Company increased their target price on shares of Occidental Petroleum from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. 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's stock. Based on data from MarketBeat, the company presently has an average 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.