Rafferty Asset Management LLC Has $14.29 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Rafferty Asset Management LLC lifted its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,201 shares of the oil and gas producer's stock after buying an additional 14,070 shares during the period. Rafferty Asset Management LLC's holdings in Occidental Petroleum were worth $14,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Howard Capital Management Inc. boosted its holdings in Occidental Petroleum by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer's stock valued at $209,000 after purchasing an additional 216 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock valued at $58,000 after purchasing an additional 248 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Occidental Petroleum by 3.2% in the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock valued at $398,000 after purchasing an additional 250 shares during the last quarter. Horizon Investments LLC boosted its holdings in Occidental Petroleum by 2.3% in the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock valued at $554,000 after purchasing an additional 257 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Occidental Petroleum by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer's stock valued at $2,863,000 after purchasing an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. UBS Group reduced their target price on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Stephens reduced their target price on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their target price on Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Piper Sandler reduced their target price on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their target price on Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and a consensus target price of $53.48.

Occidental Petroleum Stock Down 0.8%

Shares of NYSE:OXY traded down $0.35 during trading on Friday, hitting $43.02. 7,555,730 shares of the company were exchanged, compared to its average volume of 11,191,412. The stock has a market cap of $42.34 billion, a price-to-earnings ratio of 17.63 and a beta of 0.81. Occidental Petroleum Co. has a fifty-two week low of $34.79 and a fifty-two week high of $64.76. The firm has a fifty day moving average price of $42.69 and a two-hundred day moving average price of $46.95. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued 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. The company had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. As a group, research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

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

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.