Triumph Capital Management Purchases 1,219 Shares of Occidental Petroleum Co. (NYSE:OXY)

Triumph Capital Management lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 23.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,485 shares of the oil and gas producer’s stock after acquiring an additional 1,219 shares during the quarter. Triumph Capital Management’s holdings in Occidental Petroleum were worth $388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OXY. Annis Gardner Whiting Capital Advisors LLC bought a new position in Occidental Petroleum in the 3rd quarter worth about $26,000. Orion Capital Management LLC bought a new position in Occidental Petroleum in the 3rd quarter worth about $27,000. TLW Wealth Management LLC bought a new position in Occidental Petroleum in the 4th quarter worth about $28,000. Grove Bank & Trust boosted its stake in Occidental Petroleum by 86.0% in 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 during the period. Finally, Criterion Capital Advisors LLC bought a new position in Occidental Petroleum in the 4th quarter worth about $34,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $64.45 on Thursday. 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 business’s 50 day simple moving average is $64.63 and its two-hundred day simple moving average is $61.40. The stock has a market capitalization of $57.13 billion, a P/E ratio of 16.48 and a beta of 1.64. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $7.53 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The business’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.61 EPS. Analysts forecast that Occidental Petroleum Co. will post 3.85 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently declared 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 was Thursday, March 7th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a dividend yield of 1.37%. Occidental Petroleum’s payout ratio is currently 22.51%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on OXY shares. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Susquehanna lifted their price target on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Barclays started coverage on Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target for the company. Stephens reiterated an “overweight” rating and set a $74.00 price target on shares of Occidental Petroleum in a research report on Thursday, February 15th. Finally, 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 research report on Thursday, April 11th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $71.94.

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.