Cutter & CO Brokerage Inc. Has $4.45 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Cutter & CO Brokerage Inc. raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,499 shares of the oil and gas producer’s stock after purchasing an additional 2,107 shares during the quarter. Occidental Petroleum accounts for approximately 1.2% of Cutter & CO Brokerage Inc.’s investment portfolio, making the stock its 16th biggest position. Cutter & CO Brokerage Inc.’s holdings in Occidental Petroleum were worth $4,448,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Oppenheimer & Co. Inc. boosted its holdings in shares of Occidental Petroleum by 8.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock valued at $10,139,000 after acquiring an additional 12,349 shares in the last quarter. SeaCrest Wealth Management LLC boosted its holdings in shares of Occidental Petroleum by 8.9% during the 4th quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock valued at $343,000 after acquiring an additional 474 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $29,665,000. Cullen Investment Group LTD. acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at $1,006,000. Finally, Koshinski Asset Management Inc. raised its position in Occidental Petroleum by 53.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock worth $2,877,000 after purchasing an additional 16,871 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

OXY has been the subject of several analyst reports. 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 objective 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. Morgan Stanley lifted their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Susquehanna lifted their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday. Finally, Barclays began coverage on Occidental Petroleum in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective for the company. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Stock Up 0.6 %

OXY stock traded up $0.39 during mid-day trading on Tuesday, reaching $67.39. 5,383,997 shares of the company traded hands, compared to its average volume of 8,733,055. The stock has a market cap of $59.74 billion, a price-to-earnings ratio of 17.16 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 fifty-two week low of $55.12 and a fifty-two week high of $71.18. The firm’s 50 day moving average price is $63.57 and its 200 day moving average price is $61.21.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.61 EPS. As a group, equities research analysts predict that Occidental Petroleum Co. will post 3.82 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Thursday, March 7th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s payout ratio is presently 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.