12,966 Shares in Occidental Petroleum Co. (NYSE:OXY) Acquired by Wright Investors Service Inc.

Wright Investors Service Inc. purchased a new stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,966 shares of the oil and gas producer's stock, valued at approximately $640,000.

Several other large investors have also made changes to their positions in OXY. Howard Capital Management Inc. boosted its position in Occidental Petroleum by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer's stock worth $209,000 after purchasing an additional 216 shares during the period. Deseret Mutual Benefit Administrators boosted its position in Occidental Petroleum by 27.1% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock worth $58,000 after purchasing an additional 248 shares during the period. Horizon Investments LLC boosted its position in Occidental Petroleum by 2.3% during the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock worth $554,000 after purchasing an additional 257 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Occidental Petroleum by 20.2% during 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 purchasing an additional 274 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in Occidental Petroleum by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer's stock worth $2,863,000 after purchasing an additional 290 shares during the period. Institutional investors own 88.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on OXY. Piper Sandler decreased their target price on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Wall Street Zen lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Thursday, February 27th. UBS Group decreased their price target 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. Finally, Citigroup raised their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus target price of $53.14.

Occidental Petroleum Stock Performance

Occidental Petroleum stock traded up $0.27 during trading hours on Thursday, hitting $42.18. The company had a trading volume of 3,968,058 shares, compared to its average volume of 11,264,192. The firm has a market cap of $41.51 billion, a PE ratio of 17.29 and a beta of 0.81. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. Occidental Petroleum Co. has a one year low of $34.79 and a one year high of $64.76. The firm has a 50-day moving average of $41.05 and a 200 day moving average of $46.19.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results 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 net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.80 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same period last year, the firm earned $0.63 earnings per share. The business's revenue for the quarter was up 13.9% on a year-over-year basis. On average, sell-side analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm 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 dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.28%. Occidental Petroleum's dividend payout ratio is presently 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.