Everence Capital Management Inc. Takes $2.57 Million Position in Occidental Petroleum Co. (NYSE:OXY)

Everence Capital Management Inc. bought a new stake in Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 42,950 shares of the oil and gas producer’s stock, valued at approximately $2,565,000.

Several other institutional investors also recently modified their holdings of OXY. Everhart Financial Group Inc. grew its holdings in Occidental Petroleum by 2.3% during the third quarter. Everhart Financial Group Inc. now owns 7,457 shares of the oil and gas producer’s stock valued at $484,000 after purchasing an additional 169 shares during the period. PFG Investments LLC increased its stake in Occidental Petroleum by 2.7% in the 3rd quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer’s stock worth $417,000 after acquiring an additional 170 shares during the last quarter. VisionPoint Advisory Group LLC increased its position in shares of Occidental Petroleum by 1.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock valued at $957,000 after purchasing an additional 174 shares during the last quarter. Conning Inc. increased its position in shares of Occidental Petroleum by 3.6% during the 3rd quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer’s stock valued at $334,000 after purchasing an additional 180 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Occidental Petroleum by 1.5% during the 1st quarter. Lazard Asset Management LLC now owns 11,920 shares of the oil and gas producer’s stock valued at $676,000 after purchasing an additional 180 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Down 2.2 %

Shares of OXY traded down $1.52 on Tuesday, reaching $66.82. The stock had a trading volume of 12,434,095 shares, compared to its average volume of 8,844,323. The firm has a market capitalization of $59.23 billion, a price-to-earnings ratio of 16.89 and a beta of 1.64. 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 company has a 50-day simple moving average of $62.70 and a 200-day simple moving average of $61.05. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates 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 firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 EPS. Sell-side analysts predict that Occidental Petroleum Co. will post 3.84 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Thursday, March 7th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio (DPR) is 22.51%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley increased their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Raymond James reduced their price objective on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. HSBC started coverage on Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 target price for the company. Stephens restated an “overweight” rating and set a $74.00 target price on shares of Occidental Petroleum in a report on Thursday, February 15th. Finally, Truist Financial increased their target price on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a report on Friday, April 5th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.06.

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.