Tyche Wealth Partners LLC Invests $281,000 in Occidental Petroleum Co. (NYSE:OXY)

Tyche Wealth Partners LLC bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,711 shares of the oil and gas producer’s stock, valued at approximately $281,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Occidental Petroleum during the third quarter valued at $26,000. Orion Capital Management LLC acquired a new position in Occidental Petroleum during the third quarter valued at $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at $28,000. Grove Bank & Trust raised its position in 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 buying an additional 240 shares during the period. Finally, BKM Wealth Management LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at $35,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on OXY shares. HSBC started coverage on Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 target price on the stock. Stephens restated an “overweight” rating and issued a $74.00 target price 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 boosted their target price for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Raymond James lowered their target price 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. Finally, StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Nine equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $72.06.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $65.98 on Thursday. The business has a 50 day moving average price of $63.05 and a 200 day moving average price of $61.09. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The company has a market cap of $58.49 billion, a price-to-earnings ratio of 16.87 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 (NYSE:OXY) last announced its earnings results 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. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the prior year, the company earned $1.61 EPS. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. Research analysts predict that Occidental Petroleum Co. will post 3.74 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were paid 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 1.33%. Occidental Petroleum’s dividend payout ratio is presently 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.