23,150 Shares in Occidental Petroleum Co. (NYSE:OXY) Acquired by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,150 shares of the oil and gas producer’s stock, valued at approximately $1,144,000.

Several other institutional investors have also recently made changes to their positions in OXY. Benchmark Investment Advisors LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at $642,000. Fisher Asset Management LLC grew its holdings in Occidental Petroleum by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock valued at $30,320,000 after buying an additional 6,461 shares in the last quarter. Rule One Partners LLC increased its position in shares of Occidental Petroleum by 18.1% during the fourth quarter. Rule One Partners LLC now owns 325,501 shares of the oil and gas producer’s stock valued at $16,083,000 after buying an additional 50,000 shares during the period. Mountain Lake Investment Management LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter worth about $618,000. Finally, Milestones Administradora de Recursos Ltda. boosted its position in shares of Occidental Petroleum by 10.6% in the fourth quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer’s stock valued at $9,577,000 after acquiring an additional 18,500 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $41.60 on Wednesday. The firm has a fifty day simple moving average of $41.92 and a two-hundred day simple moving average of $46.54. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a twelve month low of $34.79 and a twelve month high of $64.76. The company has a market capitalization of $40.94 billion, a PE ratio of 17.05 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. During the same quarter in the previous year, the company posted $0.63 EPS. Occidental Petroleum’s revenue for the quarter was up 13.9% on a year-over-year basis. Research analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.02%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Raymond James cut shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Stephens lowered their price objective on Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. The Goldman Sachs Group lowered Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Scotiabank lowered Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 target price on the stock. in a research note on Friday, April 11th. Finally, Barclays lifted their price target on Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.