Hardin Capital Partners LLC Increases Holdings in Occidental Petroleum Co. (NYSE:OXY)

Hardin Capital Partners LLC grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 24.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,665 shares of the oil and gas producer’s stock after buying an additional 4,069 shares during the period. Occidental Petroleum accounts for about 0.6% of Hardin Capital Partners LLC’s holdings, making the stock its 24th largest holding. Hardin Capital Partners LLC’s holdings in Occidental Petroleum were worth $1,020,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of OXY. Robeco Institutional Asset Management B.V. purchased a new stake in Occidental Petroleum during the 4th quarter worth about $1,633,000. Swedbank AB lifted its holdings in Occidental Petroleum by 21.9% during the 4th quarter. Swedbank AB now owns 343,689 shares of the oil and gas producer’s stock worth $16,982,000 after buying an additional 61,635 shares during the last quarter. Oak Harvest Investment Services purchased a new stake in Occidental Petroleum during the 4th quarter worth about $265,000. New Wave Wealth Advisors LLC purchased a new stake in Occidental Petroleum during the 4th quarter worth about $59,000. Finally, Caprock Group LLC lifted its holdings in Occidental Petroleum by 17.1% during the 4th quarter. Caprock Group LLC now owns 51,406 shares of the oil and gas producer’s stock worth $2,550,000 after buying an additional 7,510 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OXY shares. JPMorgan Chase & Co. decreased their target price on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Stephens decreased their target price on Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Morgan Stanley set a $58.00 target price on Occidental Petroleum and gave the company an “overweight” rating in a research report on Wednesday, March 26th. Finally, Raymond James cut Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $81.00 to $64.00 in a research report on Monday, March 10th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $53.14.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $40.77 on Friday. The company has a market cap of $40.12 billion, a price-to-earnings ratio of 16.71 and a beta of 0.81. The stock has a 50 day simple moving average of $41.49 and a 200-day simple moving average of $46.34. Occidental Petroleum Co. has a 12-month low of $34.79 and a 12-month high of $64.76. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

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

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum’s payout ratio is currently 39.02%.

Occidental Petroleum 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.