Rhumbline Advisers Purchases 79,005 Shares of Occidental Petroleum Co. (NYSE:OXY)

Rhumbline Advisers lifted its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,202,070 shares of the oil and gas producer's stock after buying an additional 79,005 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of Occidental Petroleum worth $59,334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Occidental Petroleum by 14.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 6,691 shares of the oil and gas producer's stock worth $330,000 after buying an additional 843 shares in the last quarter. Asset Management Advisors LLC lifted its holdings in shares of Occidental Petroleum by 1.4% in the first quarter. Asset Management Advisors LLC now owns 123,045 shares of the oil and gas producer's stock worth $6,074,000 after buying an additional 1,700 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Occidental Petroleum by 6,237.1% in the first quarter. GAMMA Investing LLC now owns 336,438 shares of the oil and gas producer's stock worth $16,607,000 after buying an additional 331,129 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Occidental Petroleum by 8.2% in the first quarter. Moody National Bank Trust Division now owns 15,026 shares of the oil and gas producer's stock worth $742,000 after buying an additional 1,145 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Occidental Petroleum by 20.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock worth $81,000 after buying an additional 274 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

NYSE OXY traded up $0.76 on Friday, reaching $42.58. 6,847,107 shares of the company's stock traded hands, compared to its average volume of 11,308,404. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $64.76. 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 stock has a 50-day simple moving average of $40.76 and a 200 day simple moving average of $46.08. The stock has a market cap of $41.90 billion, a PE ratio of 17.45 and a beta of 0.87.

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, beating analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.80 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same period last year, the business earned $0.63 earnings per share. The business's quarterly revenue was up 13.9% on a year-over-year basis. As a group, research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is 39.02%.

Analysts Set New Price Targets

OXY has been the topic of a number of recent analyst reports. TD Cowen downgraded shares of Occidental Petroleum from a "buy" rating to a "hold" rating and lowered their price target for the stock from $68.00 to $45.00 in a report on Tuesday, April 8th. UBS Group decreased their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price objective on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Stephens decreased their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus target price of $53.14.

Occidental Petroleum Company 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.