Intact Investment Management Inc. acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 68,000 shares of the oil and gas producer's stock, valued at approximately $4,060,000.
Other institutional investors also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $26,000. Orion Capital Management LLC purchased a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $27,000. TLW Wealth Management LLC purchased a new stake in Occidental Petroleum during the 4th quarter worth $28,000. Grove Bank & Trust boosted its position in Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 240 shares during the period. Finally, Criterion Capital Advisors LLC purchased a new stake in Occidental Petroleum during the 4th quarter worth $34,000. 88.70% of the stock is owned by hedge funds and other institutional investors.
Occidental Petroleum Stock Down 0.1 %
Shares of Occidental Petroleum stock traded down $0.10 during trading on Friday, reaching $67.78. The company had a trading volume of 5,426,855 shares, compared to its average volume of 7,925,358. The company has a market cap of $60.08 billion, a price-to-earnings ratio of 17.34 and a beta of 1.64. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. The firm's fifty day moving average is $64.27 and its 200-day moving average is $61.33.
Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting analysts' consensus estimates of $0.74. The firm had revenue of $7.53 billion during the quarter, compared to analysts' expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period last year, the firm posted $1.61 earnings per share. On average, analysts anticipate that Occidental Petroleum Co. will post 3.85 EPS for the current year.
Occidental Petroleum Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.30%. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 7th. Occidental Petroleum's dividend payout ratio (DPR) is presently 22.51%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on OXY. Scotiabank raised shares of Occidental Petroleum from a "sector perform" rating to a "sector outperform" rating and upped their price target for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Stephens reaffirmed an "overweight" rating and set a $74.00 price target on shares of Occidental Petroleum in a research report on Thursday, February 15th. HSBC assumed coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a "hold" rating and a $65.00 price target for the company. Barclays assumed coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They issued an "equal weight" rating and a $73.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $71.94.
View Our Latest Stock Report on OXY
About Occidental Petroleum
(
Free Report)
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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