GTS Securities LLC Raises Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

GTS Securities LLC raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 395.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,775 shares of the oil and gas producer’s stock after purchasing an additional 20,576 shares during the period. GTS Securities LLC’s holdings in Occidental Petroleum were worth $1,274,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of OXY. Park Avenue Securities LLC lifted its position in shares of Occidental Petroleum by 3.2% during the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock valued at $398,000 after buying an additional 250 shares in the last quarter. Merit Financial Group LLC increased its stake in shares of Occidental Petroleum by 56.0% during the fourth quarter. Merit Financial Group LLC now owns 7,984 shares of the oil and gas producer’s stock worth $394,000 after purchasing an additional 2,865 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth about $248,000. Simon Quick Advisors LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth about $247,000. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Occidental Petroleum by 24.1% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,210 shares of the oil and gas producer’s stock worth $307,000 after purchasing an additional 1,205 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Raymond James cut shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. JPMorgan Chase & Co. decreased their target price on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Piper Sandler dropped their target price on shares of Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company dropped their target price on shares of Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Finally, Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $53.14.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $41.30 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The firm’s 50-day moving average is $42.18 and its two-hundred day moving average is $46.67. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $64.76. The company has a market capitalization of $40.64 billion, a PE ratio of 16.93 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.13. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. Analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.32%. Occidental Petroleum’s payout ratio is 39.02%.

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.