Private Wealth Partners LLC Raises Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Private Wealth Partners LLC raised its position in Occidental Petroleum Co. (NYSE:OXY) by 63.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 26,885 shares of the oil and gas producer’s stock after purchasing an additional 10,450 shares during the period. Private Wealth Partners LLC’s holdings in Occidental Petroleum were worth $1,605,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum during the third quarter worth approximately $26,000. Orion Capital Management LLC acquired a new position in shares of Occidental Petroleum during the 3rd quarter worth $27,000. TLW Wealth Management LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth $28,000. Grove Bank & Trust increased its position in Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC purchased a new stake in Occidental Petroleum during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on OXY. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $63.00 to $90.00 in a report on Thursday, April 11th. HSBC initiated coverage on Occidental Petroleum in a research report on Monday, April 8th. They issued a “hold” rating and a $65.00 target price on the stock. Stephens reiterated an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, February 15th. Susquehanna upped their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Finally, Morgan Stanley increased their price target on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Trading Down 0.1 %

Shares of Occidental Petroleum stock traded down $0.10 during trading on Friday, hitting $67.78. The stock had a trading volume of 5,426,855 shares, compared to its average volume of 7,925,358. The stock has a 50 day simple moving average of $64.27 and a 200 day simple moving average of $61.35. The company has a market capitalization of $60.08 billion, a PE ratio of 17.34 and a beta of 1.64. The company has a quick ratio of 0.69, a current ratio of 0.92 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.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The firm’s revenue was down 9.6% on a year-over-year basis. On average, research analysts expect that Occidental Petroleum Co. will post 3.85 EPS for the current fiscal 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. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a yield of 1.30%. Occidental Petroleum’s payout ratio is presently 22.51%.

Occidental Petroleum 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.