PACK Private Wealth LLC Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

PACK Private Wealth LLC acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 3,990 shares of the oil and gas producer’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Annis Gardner Whiting Capital Advisors LLC bought a new position in Occidental Petroleum in the 3rd quarter valued at $26,000. Orion Capital Management LLC bought a new stake in Occidental Petroleum during the third quarter valued at $27,000. TLW Wealth Management LLC purchased a new position in Occidental Petroleum during the fourth quarter worth about $28,000. Grove Bank & Trust increased its stake in Occidental Petroleum by 86.0% in the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 240 shares during the last quarter. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $34,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 2.3 %

Shares of OXY stock traded down $1.50 during mid-day trading on Wednesday, reaching $63.57. 5,825,564 shares of the company’s stock traded hands, compared to its average volume of 8,438,057. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average price is $64.98 and its 200-day moving average price is $61.34. The company has a market cap of $56.35 billion, a P/E ratio of 16.37 and a beta of 1.64. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. The business’s revenue was down 17.2% compared to the same quarter last year. On average, equities analysts expect that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s dividend payout ratio is presently 22.51%.

Analysts Set New Price Targets

OXY has been the subject of several research reports. Raymond James cut their target price on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Susquehanna raised their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Stephens reaffirmed an “overweight” rating and issued a $74.00 target price on shares of Occidental Petroleum in a research note on Thursday, February 15th. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $72.00.

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.