Levin Capital Strategies L.P. Purchases Shares of 7,595 Occidental Petroleum Co. (NYSE:OXY)

Levin Capital Strategies L.P. purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,595 shares of the oil and gas producer’s stock, valued at approximately $453,000.

Other large investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Occidental Petroleum in the third quarter valued at $26,000. Orion Capital Management LLC bought a new position in shares of Occidental Petroleum in the third quarter valued at about $27,000. TLW Wealth Management LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at about $28,000. Grove Bank & Trust raised its position in shares of Occidental Petroleum by 86.0% in 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 bought a new position in shares of Occidental Petroleum in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of OXY traded down $0.27 during mid-day trading on Friday, reaching $64.39. The company had a trading volume of 6,758,634 shares, compared to its average volume of 8,499,626. The company’s 50 day simple moving average is $64.72 and its 200 day simple moving average is $61.43. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. The company has a market capitalization of $57.08 billion, a price-to-earnings ratio of 16.47 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the company posted $1.61 EPS. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. Analysts expect that Occidental Petroleum Co. will post 3.81 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, June 10th. This represents a $0.88 annualized dividend and a yield of 1.37%. Occidental Petroleum’s dividend payout ratio is presently 22.51%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on OXY shares. Mizuho increased their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Barclays began coverage on shares of 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. HSBC began coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 price target on the stock. Wells Fargo & Company raised their price target on shares of 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, 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. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum 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.