Occidental Petroleum Co. (NYSE:OXY) Stock Position Lifted by Obermeyer Wood Investment Counsel Lllp

Obermeyer Wood Investment Counsel Lllp increased its stake in Occidental Petroleum Co. (NYSE:OXY) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,111 shares of the oil and gas producer’s stock after purchasing an additional 504 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in Occidental Petroleum were worth $365,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in OXY. Everhart Financial Group Inc. increased its position in shares of Occidental Petroleum by 2.3% during the 3rd 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 boosted its position in shares of Occidental Petroleum by 2.7% in the third quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer’s stock worth $417,000 after buying an additional 170 shares during the period. VisionPoint Advisory Group LLC boosted its position in shares of Occidental Petroleum by 1.2% in the third quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock worth $957,000 after buying an additional 174 shares during the period. Conning Inc. boosted its position in Occidental Petroleum by 3.6% during the third 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 boosted its position in Occidental Petroleum by 1.5% during the first 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. Institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays assumed coverage on Occidental Petroleum in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price target for the company. Stephens reiterated an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research note on Thursday, February 15th. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Raymond James dropped their price objective on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.06.

Occidental Petroleum Stock Up 2.2 %

Shares of Occidental Petroleum stock traded up $1.46 during trading hours on Friday, reaching $67.50. 2,517,930 shares of the company’s stock were exchanged, compared to its average volume of 8,708,625. The company has a 50 day moving average of $63.21 and a two-hundred day moving average of $61.13. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The stock has a market cap of $59.84 billion, a P/E ratio of 16.89 and a beta of 1.64.

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

Occidental Petroleum Increases Dividend

The firm also recently declared 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 an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.88 annualized dividend and a yield of 1.30%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.51%.

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.