Peterson Wealth Services Buys 210 Shares of Occidental Petroleum Co. (NYSE:OXY)

Peterson Wealth Services lifted its stake in Occidental Petroleum Co. (NYSE:OXY) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,311 shares of the oil and gas producer’s stock after purchasing an additional 210 shares during the period. Peterson Wealth Services’ holdings in Occidental Petroleum were worth $2,407,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OXY. Moneta Group Investment Advisors LLC bought a new position in shares of Occidental Petroleum in the 4th quarter worth $267,173,000. Bank of New York Mellon Corp boosted its position in shares of Occidental Petroleum by 24.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock worth $779,983,000 after purchasing an additional 2,334,651 shares during the last quarter. American Century Companies Inc. boosted its position in shares of 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 worth $145,520,000 after purchasing an additional 1,922,656 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Occidental Petroleum by 87.9% in the 1st quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer’s stock worth $185,885,000 after purchasing an additional 1,532,100 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Occidental Petroleum by 22.2% in 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 last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Up 0.3 %

Shares of NYSE:OXY traded up $0.19 during midday trading on Thursday, reaching $66.17. The company had a trading volume of 1,662,737 shares, compared to its average volume of 8,719,786. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average price is $63.05 and its 200 day moving average price is $61.09. The stock has a market cap of $58.66 billion, a PE ratio of 16.87 and a beta of 1.64. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18.

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

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.88 dividend on an annualized basis and a yield of 1.33%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Analysts Set New Price Targets

Several analysts recently commented on OXY shares. Raymond James dropped their price objective on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Barclays started coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price objective on the stock. Wells Fargo & Company raised their price objective on Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Stephens reaffirmed an “overweight” rating and set a $74.00 price objective on shares of Occidental Petroleum in a research note on Thursday, February 15th. Finally, StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.06.

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.