Pacific Point Advisors LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,000 shares of the oil and gas producer's stock, valued at approximately $494,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new position in Occidental Petroleum during the 4th quarter worth about $26,000. Whipplewood Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth $27,000. VSM Wealth Advisory LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at about $27,000. Atala Financial Inc acquired a new stake in shares of Occidental Petroleum during the fourth quarter valued at about $40,000. Finally, Millstone Evans Group LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $42,000. Institutional investors own 88.70% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. Raymond James downgraded Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their price target for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. TD Cowen lowered Occidental Petroleum from a "buy" rating to a "hold" rating and dropped their price target for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Scotiabank cut Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price target for the company. in a research note on Friday, April 11th. Finally, Wall Street Zen cut Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $53.14.
Check Out Our Latest Stock Report on OXY
Occidental Petroleum Price Performance
Shares of NYSE OXY opened at $41.10 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $40.44 billion, a P/E ratio of 16.84 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. The firm's 50-day moving average price is $42.31 and its 200-day moving average price is $46.76.
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. The company had revenue of $6.80 billion for the quarter, compared to analysts' expectations of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm's revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.
Occidental Petroleum Dividend Announcement
The business 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 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 dividend yield of 2.34%. Occidental Petroleum's dividend payout ratio is 39.02%.
About Occidental Petroleum
(
Free Report)
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.
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