Tufton Capital Management Makes New $1.34 Million Investment in Occidental Petroleum Corporation (NYSE:OXY)

Tufton Capital Management acquired a new position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 27,193 shares of the oil and gas producer's stock, valued at approximately $1,342,000.

Other large investors also recently added to or reduced their stakes in the company. Journey Strategic Wealth LLC grew its holdings in shares of Occidental Petroleum by 8.1% during the first quarter. Journey Strategic Wealth LLC now owns 5,130 shares of the oil and gas producer's stock worth $253,000 after purchasing an additional 385 shares in the last quarter. Carnegie Investment Counsel lifted its position in Occidental Petroleum by 2.1% in the 1st quarter. Carnegie Investment Counsel now owns 56,506 shares of the oil and gas producer's stock worth $2,789,000 after buying an additional 1,136 shares during the last quarter. Guardian Wealth Management Inc. lifted its position in Occidental Petroleum by 187.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 53,203 shares of the oil and gas producer's stock worth $2,626,000 after buying an additional 34,725 shares during the last quarter. Triumph Capital Management lifted its position in Occidental Petroleum by 11.8% in the 1st quarter. Triumph Capital Management now owns 9,175 shares of the oil and gas producer's stock worth $453,000 after buying an additional 970 shares during the last quarter. Finally, Oak Thistle LLC bought a new stake in Occidental Petroleum in the 1st quarter worth approximately $742,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on OXY. TD Cowen downgraded Occidental Petroleum from a "buy" rating to a "hold" rating and dropped their target price for the stock from $68.00 to $45.00 in a research report on Tuesday, April 8th. JPMorgan Chase & Co. boosted their target price on Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Scotiabank boosted their price objective on Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Finally, Susquehanna lowered their price objective on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $53.71.

Occidental Petroleum Stock Performance

OXY stock traded up $0.08 during trading on Friday, reaching $44.71. The stock had a trading volume of 5,626,932 shares, compared to its average volume of 10,707,318. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $61.35. The stock's 50 day moving average is $43.43 and its two-hundred day moving average is $44.87. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90. The firm has a market cap of $44.00 billion, a PE ratio of 18.18 and a beta of 0.84.

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 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 firm had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter last year, the company earned $0.63 earnings per share. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is 39.02%.

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.