Life Cycle Investment Partners Ltd Takes Position in Occidental Petroleum Corporation $OXY

Life Cycle Investment Partners Ltd bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) in the 4th quarter, Holdings Channel reports. The fund bought 498,311 shares of the oil and gas producer’s stock, valued at approximately $20,491,000.

Other hedge funds have also bought and sold shares of the company. Lighthouse Investment Partners LLC acquired a new position in Occidental Petroleum in the third quarter worth about $22,345,000. DNB Asset Management AS grew its stake in Occidental Petroleum by 100.3% in the third quarter. DNB Asset Management AS now owns 267,807 shares of the oil and gas producer’s stock worth $12,654,000 after purchasing an additional 134,128 shares in the last quarter. Mirabella Financial Services LLP grew its stake in Occidental Petroleum by 154.7% in the third quarter. Mirabella Financial Services LLP now owns 29,566 shares of the oil and gas producer’s stock worth $1,394,000 after purchasing an additional 17,958 shares in the last quarter. Gifford Fong Associates grew its stake in Occidental Petroleum by 41.2% in the third quarter. Gifford Fong Associates now owns 171,429 shares of the oil and gas producer’s stock worth $8,100,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Occidental Petroleum by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock worth $3,696,716,000 after purchasing an additional 699,137 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 0.0%

NYSE:OXY opened at $58.82 on Friday. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The firm has a market capitalization of $58.50 billion, a P/E ratio of 14.82 and a beta of 0.17. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. The business has a 50 day simple moving average of $58.94 and a 200 day simple moving average of $49.37.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. Equities research analysts predict that Occidental Petroleum Corporation will post 5.33 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. Occidental Petroleum’s payout ratio is currently 26.20%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Susquehanna increased their target price on shares of Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a report on Tuesday, April 21st. Piper Sandler raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $54.00 to $66.00 in a report on Thursday, March 12th. Wolfe Research increased their target price on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. The Goldman Sachs Group upgraded Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $64.00 target price for the company in a research note on Thursday. Finally, Roth Mkm lifted their target price on Occidental Petroleum from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $62.91.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.