PFG Investments LLC Acquires 900 Shares of Occidental Petroleum Co. (NYSE:OXY)

PFG Investments LLC raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 14.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,323 shares of the oil and gas producer’s stock after acquiring an additional 900 shares during the period. PFG Investments LLC’s holdings in Occidental Petroleum were worth $437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Glenview Trust Co grew its position in Occidental Petroleum by 3.3% in the second quarter. Glenview Trust Co now owns 4,932 shares of the oil and gas producer’s stock valued at $290,000 after acquiring an additional 159 shares during the last quarter. Everhart Financial Group Inc. grew its holdings in shares of Occidental Petroleum by 2.3% during the third quarter. Everhart Financial Group Inc. now owns 7,457 shares of the oil and gas producer’s stock worth $484,000 after purchasing an additional 169 shares during the last quarter. VisionPoint Advisory Group LLC grew its holdings in shares of Occidental Petroleum by 1.2% during the third quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock worth $957,000 after purchasing an additional 174 shares during the last quarter. Conning Inc. grew its holdings in shares of Occidental Petroleum by 3.6% during the third quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer’s stock worth $334,000 after purchasing an additional 180 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Occidental Petroleum by 1.5% during the first quarter. Lazard Asset Management LLC now owns 11,920 shares of the oil and gas producer’s stock worth $676,000 after purchasing an additional 180 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of OXY opened at $64.21 on Thursday. Occidental Petroleum Co. has a 52-week low of $55.12 and a 52-week high of $67.67. 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 business’s 50 day moving average price is $59.84 and its two-hundred day moving average price is $60.79. The firm has a market cap of $56.92 billion, a PE ratio of 16.42 and a beta of 1.63.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. The company’s revenue was down 9.6% compared to the same quarter last year. On average, equities analysts anticipate that Occidental Petroleum Co. will post 3.56 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 8th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, March 7th. Occidental Petroleum’s dividend payout ratio is presently 22.51%.

Wall Street Analyst Weigh In

OXY has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on Occidental Petroleum from $78.00 to $73.00 and set a “neutral” rating on the stock in a report on Friday, December 8th. Wells Fargo & Company upped their target price on Occidental Petroleum from $59.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 16th. Raymond James reduced their target price on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Mizuho upped their target price on Occidental Petroleum from $63.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. Finally, Truist Financial reduced their target price on Occidental Petroleum from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.94.

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.