Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by Greatmark Investment Partners Inc.

Greatmark Investment Partners Inc. boosted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,180 shares of the oil and gas producer’s stock after acquiring an additional 200 shares during the period. Greatmark Investment Partners Inc.’s holdings in Occidental Petroleum were worth $787,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in OXY. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Occidental Petroleum in the 3rd quarter valued at about $26,000. Orion Capital Management LLC purchased a new position in Occidental Petroleum in the third quarter valued at approximately $27,000. TLW Wealth Management LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter valued at approximately $28,000. Grove Bank & Trust raised its stake in shares of Occidental Petroleum by 86.0% during the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 240 shares during the period. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter valued at approximately $34,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Barclays assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price objective on the stock. Susquehanna lifted their price objective on shares of Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Stephens reissued an “overweight” rating and set a $74.00 price target on shares of Occidental Petroleum in a research report on Thursday, February 15th. Finally, Mizuho raised their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded up $0.33 during midday trading on Monday, reaching $68.11. 3,517,690 shares of the company traded hands, compared to its average volume of 8,543,413. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18. The stock has a 50-day moving average price of $64.27 and a 200 day moving average price of $61.33. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. The company has a market cap of $60.38 billion, a price-to-earnings ratio of 17.33 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, hitting the consensus estimate 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 analysts’ expectations of $6.93 billion. During the same period in the previous year, the business earned $1.61 earnings per share. Occidental Petroleum’s revenue for the quarter was down 9.6% compared to the same quarter last year. Sell-side analysts anticipate that Occidental Petroleum Co. will post 3.85 earnings per share 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 given a $0.22 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a yield of 1.29%. Occidental Petroleum’s payout ratio is 22.51%.

About Occidental Petroleum

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.