Cetera Investment Advisers increased its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 45.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 258,303 shares of the oil and gas producer's stock after buying an additional 80,883 shares during the period. Cetera Investment Advisers' holdings in Occidental Petroleum were worth $12,763,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Altshuler Shaham Ltd acquired a new position in shares of Occidental Petroleum during the 4th quarter valued at about $26,000. VSM Wealth Advisory LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter valued at about $27,000. Whipplewood Advisors LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new stake in Occidental Petroleum during the 4th quarter worth approximately $40,000. Finally, Millstone Evans Group LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth approximately $42,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
Occidental Petroleum Price Performance
Occidental Petroleum stock traded up $1.66 during trading hours on Monday, hitting $43.82. 17,857,620 shares of the company traded hands, compared to its average volume of 11,107,769. The firm's 50-day simple moving average is $42.96 and its two-hundred day simple moving average is $47.19. The firm has a market cap of $43.12 billion, a P/E ratio of 17.96 and a beta of 0.81. Occidental Petroleum Co. has a 1-year low of $34.79 and a 1-year high of $64.76. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.
Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. The firm had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Occidental Petroleum's revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, analysts forecast 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 dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.19%. Occidental Petroleum's payout ratio is presently 39.02%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on OXY shares. Wells Fargo & Company dropped their target price on shares of Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Scotiabank downgraded shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 target price for the company. in a research report on Friday, April 11th. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Citigroup dropped their target price on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Finally, UBS Group dropped their target price on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $54.05.
Check Out Our Latest Analysis on Occidental Petroleum
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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