Great Valley Advisor Group Inc. Grows Position in Occidental Petroleum Co. (NYSE:OXY)

Great Valley Advisor Group Inc. grew its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 34.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 45,355 shares of the oil and gas producer’s stock after buying an additional 11,720 shares during the period. Great Valley Advisor Group Inc.’s holdings in Occidental Petroleum were worth $2,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC raised its position in shares of Occidental Petroleum by 24.1% in the fourth quarter. Cornerstone Wealth Management LLC now owns 6,210 shares of the oil and gas producer’s stock worth $307,000 after acquiring an additional 1,205 shares during the period. CX Institutional boosted its position in Occidental Petroleum by 25.0% during the fourth quarter. CX Institutional now owns 4,335 shares of the oil and gas producer’s stock worth $214,000 after purchasing an additional 866 shares in the last quarter. Jamison Private Wealth Management Inc. grew its holdings in Occidental Petroleum by 21.2% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 7,714 shares of the oil and gas producer’s stock valued at $381,000 after purchasing an additional 1,347 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Occidental Petroleum by 10.7% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,356 shares of the oil and gas producer’s stock valued at $413,000 after buying an additional 809 shares in the last quarter. Finally, PFG Investments LLC raised its stake in shares of Occidental Petroleum by 9.6% during the 4th quarter. PFG Investments LLC now owns 22,107 shares of the oil and gas producer’s stock worth $1,092,000 after buying an additional 1,944 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Up 0.5%

Shares of OXY opened at $41.30 on Tuesday. Occidental Petroleum Co. has a 52-week low of $34.79 and a 52-week high of $64.76. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a fifty day simple moving average of $42.05 and a two-hundred day simple moving average of $46.57. 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 earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. Occidental Petroleum’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, equities analysts forecast that Occidental Petroleum Co. will post 3.58 EPS 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 issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio is presently 39.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OXY shares. JPMorgan Chase & Co. cut their price target on shares of Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the company an “overweight” rating in a research report on Wednesday, March 26th. TD Cowen downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price target for the stock from $68.00 to $45.00 in a research report on Tuesday, April 8th. Wall Street Zen lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Finally, Piper Sandler reduced their target price on Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $53.14.

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.