CapWealth Advisors LLC Has $355,000 Position in Occidental Petroleum Co. (NYSE:OXY)

CapWealth Advisors LLC increased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,943 shares of the oil and gas producer’s stock after acquiring an additional 443 shares during the quarter. CapWealth Advisors LLC’s holdings in Occidental Petroleum were worth $355,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Everhart Financial Group Inc. lifted its position in shares of Occidental Petroleum by 2.3% during the 3rd quarter. Everhart Financial Group Inc. now owns 7,457 shares of the oil and gas producer’s stock valued at $484,000 after acquiring an additional 169 shares during the period. PFG Investments LLC boosted its position in shares of Occidental Petroleum by 2.7% during the 3rd quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer’s stock worth $417,000 after acquiring an additional 170 shares in the last quarter. VisionPoint Advisory Group LLC increased its stake in Occidental Petroleum by 1.2% in the third quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock valued at $957,000 after acquiring an additional 174 shares during the last quarter. Conning Inc. lifted its stake in 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 increased its stake in shares of Occidental Petroleum by 1.5% in the 1st quarter. Lazard Asset Management LLC now owns 11,920 shares of the oil and gas producer’s stock valued at $676,000 after purchasing an additional 180 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Up 0.4 %

Shares of OXY stock traded up $0.27 during trading hours on Thursday, hitting $66.25. 3,226,845 shares of the company were exchanged, compared to its average volume of 8,744,336. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The company has a 50 day simple moving average of $63.05 and a two-hundred day simple moving average of $61.09. The firm has a market cap of $58.73 billion, a P/E ratio of 16.94 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.61 earnings per share. Equities analysts anticipate that Occidental Petroleum Co. will post 3.74 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.33%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio is presently 22.51%.

Analyst Upgrades and Downgrades

Several research analysts have commented on OXY shares. Truist Financial boosted their target price on Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Barclays initiated coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target for the company. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Morgan Stanley increased their target price on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.06.

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.