Occidental Petroleum Co. (NYSE:OXY) Shares Bought by CapWealth Advisors LLC

CapWealth Advisors LLC increased its stake in Occidental Petroleum Co. (NYSE:OXY) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,943 shares of the oil and gas producer’s stock after purchasing an additional 443 shares during the period. CapWealth Advisors LLC’s holdings in Occidental Petroleum were worth $355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OXY. Oppenheimer & Co. Inc. boosted its holdings in shares of Occidental Petroleum by 8.6% during the third quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock valued at $10,139,000 after acquiring an additional 12,349 shares during the period. SeaCrest Wealth Management LLC increased its stake in shares of Occidental Petroleum by 8.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock valued at $343,000 after purchasing an additional 474 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum during the third quarter valued at approximately $29,665,000. Cullen Investment Group LTD. acquired a new position in shares of Occidental Petroleum during the fourth quarter worth approximately $1,006,000. Finally, Koshinski Asset Management Inc. grew its holdings in Occidental Petroleum by 53.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock worth $2,877,000 after buying an additional 16,871 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.4 %

OXY stock traded up $0.27 during mid-day trading on Thursday, hitting $66.25. The stock had a trading volume of 3,226,845 shares, compared to its average volume of 8,744,336. The stock has a market capitalization of $58.73 billion, a price-to-earnings ratio of 16.94 and a beta of 1.64. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The company has a fifty day moving average of $63.05 and a 200 day moving average of $61.09.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 earnings per share. On average, equities analysts expect that Occidental Petroleum Co. will post 3.74 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were issued a dividend of $0.22 per share. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio (DPR) is 22.51%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on OXY shares. Morgan Stanley lifted their target price on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Mizuho increased their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Stephens restated an “overweight” rating and issued a $74.00 target price on shares of Occidental Petroleum in a research report on Thursday, February 15th. Wells Fargo & Company lifted their price target on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Finally, Barclays assumed coverage on Occidental Petroleum in a report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum has a consensus rating of “Moderate Buy” and an average 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.