Twin Capital Management Inc. Buys 29,995 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Twin Capital Management Inc. raised its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 137.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,743 shares of the oil and gas producer's stock after acquiring an additional 29,995 shares during the quarter. Twin Capital Management Inc.'s holdings in Occidental Petroleum were worth $2,554,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. OneAscent Financial Services LLC bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at $496,000. Copperwynd Financial LLC acquired a new stake in Occidental Petroleum in the 1st quarter valued at $209,000. Kestra Private Wealth Services LLC grew its position in Occidental Petroleum by 5.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer's stock valued at $843,000 after purchasing an additional 906 shares during the period. Formidable Asset Management LLC grew its position in Occidental Petroleum by 16.7% in the 1st quarter. Formidable Asset Management LLC now owns 8,945 shares of the oil and gas producer's stock valued at $442,000 after purchasing an additional 1,280 shares during the period. Finally, Nwam LLC boosted its holdings in Occidental Petroleum by 23.2% during the 1st quarter. Nwam LLC now owns 7,962 shares of the oil and gas producer's stock worth $393,000 after acquiring an additional 1,497 shares during the last quarter. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Up 0.2%

NYSE OXY opened at $43.63 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. The company has a market capitalization of $42.94 billion, a P/E ratio of 17.74 and a beta of 0.84. Occidental Petroleum Corporation has a one year low of $34.79 and a one year high of $62.55. The stock has a 50 day moving average price of $43.39 and a 200-day moving average price of $45.11.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. The company had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. Occidental Petroleum's revenue was up 13.9% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. As a group, equities analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th were paid a $0.24 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.20%. Occidental Petroleum's dividend payout ratio is currently 39.02%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Piper Sandler boosted their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday. Citigroup boosted their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Hsbc Global Res raised shares of Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Occidental Petroleum from $47.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Three research 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 MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $53.71.

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.

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