Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Obermeyer Wood Investment Counsel Lllp

Obermeyer Wood Investment Counsel Lllp increased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 9.0% in the 4th quarter, Holdings Channel reports. The firm 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 large investors have also recently made changes to their positions in the company. Xponance Inc. increased its stake in shares of Occidental Petroleum by 5.7% in the 4th quarter. Xponance Inc. now owns 84,396 shares of the oil and gas producer’s stock worth $5,039,000 after acquiring an additional 4,534 shares during the last quarter. CapWealth Advisors LLC grew its position in Occidental Petroleum by 8.1% in the 4th quarter. CapWealth Advisors LLC now owns 5,943 shares of the oil and gas producer’s stock valued at $355,000 after acquiring an additional 443 shares in the last quarter. Peterson Wealth Services grew its position in Occidental Petroleum by 0.5% in the 4th quarter. Peterson Wealth Services now owns 40,311 shares of the oil and gas producer’s stock valued at $2,407,000 after acquiring an additional 210 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Occidental Petroleum by 3.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 60,040 shares of the oil and gas producer’s stock valued at $3,585,000 after acquiring an additional 2,031 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new position in Occidental Petroleum in the 4th quarter valued at about $376,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on OXY. 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 for the company. Stephens reaffirmed an “overweight” rating and set a $74.00 price target on shares of Occidental Petroleum in a research report on Thursday, February 15th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Wells Fargo & Company lifted their price target on Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Finally, Barclays began coverage on Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating, six 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 “Moderate Buy” and a consensus target price of $72.06.

Occidental Petroleum Price Performance

OXY traded up $1.46 during trading on Friday, reaching $67.50. 2,517,930 shares of the stock were exchanged, compared to its average volume of 8,708,625. The business’s 50 day moving average price is $63.21 and its two-hundred day moving average price is $61.13. 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 capitalization of $59.84 billion, a price-to-earnings ratio of 16.89 and a beta of 1.64. Occidental Petroleum Co. has a 1 year low of $55.12 and a 1 year high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data 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. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The business had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the business earned $1.61 earnings per share. The business’s revenue was down 9.6% on a year-over-year basis. As a group, equities research analysts anticipate 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 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 annualized dividend and a yield of 1.30%. Occidental Petroleum’s dividend payout ratio is 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.