Chapin Davis Inc. Invests $579,000 in Occidental Petroleum Corporation (NYSE:OXY)

Chapin Davis Inc. purchased a new stake in Occidental Petroleum Corporation (NYSE:OXY) in the first quarter, HoldingsChannel reports. The fund purchased 11,738 shares of the oil and gas producer’s stock, valued at approximately $579,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum during the 4th quarter valued at $27,000. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum in the fourth quarter worth $27,000. Bernard Wealth Management Corp. purchased a new position in Occidental Petroleum during the fourth quarter worth $32,000. Finally, Grove Bank & Trust grew its holdings in Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on OXY. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Citigroup upped their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Monday, May 19th. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the company an “overweight” rating in a report on Wednesday, March 26th. Scotiabank downgraded shares of 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, Stephens decreased their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Three equities 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 MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $53.14.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $45.68 on Monday. The company has a market capitalization of $44.96 billion, a PE ratio of 18.57 and a beta of 0.87. The company has a 50-day simple moving average of $41.78 and a two-hundred day simple moving average of $45.65. Occidental Petroleum Corporation has a one year low of $34.79 and a one year high of $64.76. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.74 by $0.13. The firm had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. Occidental Petroleum’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. Research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.10%. Occidental Petroleum’s dividend payout ratio is presently 39.02%.

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.