Everence Capital Management Inc. Purchases Shares of 42,950 Occidental Petroleum Co. (NYSE:OXY)

Everence Capital Management Inc. acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 42,950 shares of the oil and gas producer's stock, valued at approximately $2,565,000.

Several other hedge funds have also made changes to their positions in the company. Everhart Financial Group Inc. increased its stake in Occidental Petroleum by 2.3% in the 3rd quarter. Everhart Financial Group Inc. now owns 7,457 shares of the oil and gas producer's stock valued at $484,000 after buying an additional 169 shares during the period. PFG Investments LLC grew its stake in Occidental Petroleum by 2.7% in the third quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer's stock valued at $417,000 after purchasing an additional 170 shares in the last quarter. VisionPoint Advisory Group LLC increased its position in Occidental Petroleum by 1.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer's stock worth $957,000 after purchasing an additional 174 shares during the last quarter. Conning Inc. lifted its holdings in shares of Occidental Petroleum by 3.6% during the 3rd quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer's stock valued at $334,000 after buying an additional 180 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Occidental Petroleum by 1.5% in the 1st quarter. Lazard Asset Management LLC now owns 11,920 shares of the oil and gas producer's stock valued at $676,000 after buying an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Performance

NYSE:OXY traded down $1.53 during trading hours on Tuesday, hitting $66.81. 12,441,189 shares of the company traded hands, compared to its average volume of 8,844,395. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $59.23 billion, a price-to-earnings ratio of 17.09 and a beta of 1.64. The firm has a 50-day moving average of $62.88 and a 200 day moving average of $61.06. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting analysts' consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the business earned $1.61 earnings per share. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. On average, analysts forecast that Occidental Petroleum Co. will post 3.84 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Thursday, March 7th. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.18. Occidental Petroleum's dividend payout ratio (DPR) is presently 22.51%.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Friday, March 15th. Wells Fargo & Company raised their target price on Occidental Petroleum from $62.00 to $70.00 and gave the company an "equal weight" rating in a report on Thursday, April 11th. Morgan Stanley upped their price target on Occidental Petroleum from $66.00 to $72.00 and gave the stock an "overweight" rating in a research note on Thursday, March 28th. Raymond James lowered their price objective on Occidental Petroleum from $70.00 to $68.00 and set a "strong-buy" rating on the stock in a report on Wednesday, January 24th. Finally, HSBC started coverage on Occidental Petroleum in a report on Monday, April 8th. They issued a "hold" rating and a $65.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.06.

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.