5,903 Shares in Occidental Petroleum Co. (NYSE:OXY) Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC acquired a new position in Occidental Petroleum Co. (NYSE:OXY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,903 shares of the oil and gas producer's stock, valued at approximately $291,000.

A number of other large investors have also modified their holdings of OXY. Altshuler Shaham Ltd acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $26,000. Whipplewood Advisors LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $27,000. VSM Wealth Advisory LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $27,000. Bernard Wealth Management Corp. acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $32,000. Finally, American National Bank & Trust acquired a new position in shares of Occidental Petroleum during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Trading Up 3.7%

Shares of OXY stock traded up $1.64 on Friday, hitting $46.40. The stock had a trading volume of 23,546,304 shares, compared to its average volume of 11,409,862. 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 capitalization of $45.67 billion, a P/E ratio of 19.02 and a beta of 0.87. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $64.76. The company's 50 day moving average price is $41.05 and its 200-day moving average price is $45.86.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.13. The firm 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 company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. Analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.07%. Occidental Petroleum's dividend payout ratio is presently 39.02%.

Analysts Set New Price Targets

Several research analysts have recently weighed in 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 report on Friday, April 11th. TD Cowen downgraded Occidental Petroleum from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $68.00 to $45.00 in a research report on Tuesday, April 8th. Susquehanna reduced their price objective on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Finally, Barclays lifted their price objective 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. 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. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price 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.