PACK Private Wealth LLC Invests $238,000 in Occidental Petroleum Co. (NYSE:OXY)

PACK Private Wealth LLC bought a new stake in Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, Holdings Channel reports. The fund bought 3,990 shares of the oil and gas producer’s stock, valued at approximately $238,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of Occidental Petroleum by 22.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock worth $357,977,000 after purchasing an additional 1,088,052 shares during the period. Invesco Ltd. increased its position in shares of Occidental Petroleum by 2.8% in the third quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer’s stock worth $302,697,000 after acquiring an additional 125,927 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Occidental Petroleum by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer’s stock valued at $220,910,000 after acquiring an additional 82,360 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its position in Occidental Petroleum by 51.7% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock worth $139,749,000 after purchasing an additional 797,894 shares during the period. Finally, American Century Companies Inc. increased its holdings in Occidental Petroleum by 600.4% in the 3rd quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock valued at $145,520,000 after purchasing an additional 1,922,656 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OXY shares. Morgan Stanley upped their target price on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Raymond James lowered their price objective on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Mizuho boosted their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday. Susquehanna raised their price target on shares of Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Finally, Stephens reiterated an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a report on Thursday, February 15th. 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 MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $72.00.

Occidental Petroleum Stock Performance

Shares of OXY stock traded down $1.50 on Wednesday, hitting $63.57. 5,825,564 shares of the stock traded hands, compared to its average volume of 8,438,057. The company has a market capitalization of $56.35 billion, a PE ratio of 16.37 and a beta of 1.64. The company’s fifty day moving average is $64.98 and its 200 day moving average is $61.34. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same period last year, the firm posted $1.09 EPS. The company’s revenue for the quarter was down 17.2% on a year-over-year basis. On average, equities research analysts predict that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.38%. Occidental Petroleum’s dividend payout ratio is presently 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.