Skylands Capital LLC Buys 61,686 Shares of Occidental Petroleum Co. (NYSE:OXY)

Skylands Capital LLC grew its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 24,873.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,934 shares of the oil and gas producer's stock after purchasing an additional 61,686 shares during the period. Skylands Capital LLC's holdings in Occidental Petroleum were worth $3,698,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter worth about $26,000. Orion Capital Management LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter worth about $27,000. TLW Wealth Management LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter worth about $28,000. Grove Bank & Trust boosted its stake in shares of 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 acquiring an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter worth about $34,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OXY shares. Truist Financial upped their price target on Occidental Petroleum from $77.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, April 5th. Barclays began coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They set an "equal weight" rating and a $73.00 target price for the company. Scotiabank upgraded Occidental Petroleum from a "sector perform" rating to a "sector outperform" rating and increased their target price for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. StockNews.com upgraded Occidental Petroleum from a "sell" rating to a "hold" rating in a research note on Friday, March 15th. Finally, Raymond James decreased their target price on Occidental Petroleum from $70.00 to $68.00 and set a "strong-buy" rating for the company in a research note on Wednesday, January 24th. Nine equities research 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 stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and an average price target of $71.94.

Occidental Petroleum Price Performance

OXY stock traded up $0.45 during midday trading on Monday, reaching $68.23. 5,424,849 shares of the company's stock traded hands, compared to its average volume of 8,568,842. The company has a 50-day simple moving average of $64.27 and a two-hundred day simple moving average of $61.33. The company has a market cap of $60.48 billion, a price-to-earnings ratio of 17.33 and a beta of 1.64. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $7.53 billion during the quarter, compared to analysts' expectations of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The business's revenue for the quarter was down 9.6% on a year-over-year basis. During the same period last year, the firm earned $1.61 EPS. On average, analysts anticipate that Occidental Petroleum Co. will post 3.85 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were paid a $0.22 dividend. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum's dividend payout ratio (DPR) is 22.51%.

Occidental Petroleum Company 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.