Lighthouse Investment Partners LLC Raises Stake in Occidental Petroleum Co. (NYSE:OXY)

Lighthouse Investment Partners LLC boosted its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 18.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,967 shares of the oil and gas producer's stock after purchasing an additional 5,717 shares during the period. Lighthouse Investment Partners LLC's holdings in Occidental Petroleum were worth $1,827,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Berkshire Hathaway Inc lifted its position in shares of Occidental Petroleum by 3.5% in the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock worth $13,053,055,000 after purchasing an additional 8,896,890 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Occidental Petroleum by 18.1% in the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after acquiring an additional 10,434,098 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Occidental Petroleum by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock valued at $701,816,000 after acquiring an additional 398,467 shares in the last quarter. Northern Trust Corp grew its stake in Occidental Petroleum by 7.5% during the fourth quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock worth $349,085,000 after buying an additional 491,797 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock worth $314,133,000 after buying an additional 1,278,389 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded down $0.35 during trading on Friday, reaching $43.02. 7,555,730 shares of the company traded hands, compared to its average volume of 11,149,683. The firm has a 50 day simple moving average of $42.75 and a 200-day simple moving average of $47.05. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $42.34 billion, a PE ratio of 17.63 and a beta of 0.81. Occidental Petroleum Co. has a 52-week low of $34.79 and a 52-week high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share 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 firm had revenue of $6.80 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The business's quarterly revenue was up 13.9% on a year-over-year basis. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's payout ratio is currently 39.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OXY shares. Susquehanna dropped their target price on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Mizuho dropped their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday. Stephens dropped their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. TD Cowen lowered shares of Occidental Petroleum from a "buy" rating to a "hold" rating and lowered their price target for the stock from $68.00 to $45.00 in a report on Tuesday, April 8th. Finally, Roth Capital set a $54.00 price target on shares of Occidental Petroleum in a report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $53.48.

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.