Occidental Petroleum Corporation (NYSE:OXY) Shares Bought by Liberty One Investment Management LLC

Liberty One Investment Management LLC grew its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 19.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,685 shares of the oil and gas producer’s stock after purchasing an additional 915 shares during the quarter. Liberty One Investment Management LLC’s holdings in Occidental Petroleum were worth $281,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in Occidental Petroleum during the 4th quarter worth $26,000. VSM Wealth Advisory LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter valued at about $27,000. Bernard Wealth Management Corp. acquired a new position in shares of Occidental Petroleum during the 4th quarter valued at about $32,000. Grove Bank & Trust boosted its position in shares of 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 acquiring an additional 407 shares during the last quarter. Finally, American National Bank & Trust acquired a new position in shares of Occidental Petroleum during the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 5.5%

Shares of NYSE:OXY opened at $45.72 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. The firm has a market capitalization of $44.99 billion, a PE ratio of 18.59 and a beta of 0.84. The firm’s 50-day moving average is $42.71 and its two-hundred day moving average is $45.33. Occidental Petroleum Corporation has a 1 year low of $34.79 and a 1 year high of $64.76.

Occidental Petroleum (NYSE:OXY) last issued its quarterly 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. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OXY. JPMorgan Chase & Co. lowered their price target on shares of 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 lowered their price target on shares of Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. UBS Group lowered their price target on shares of Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Citigroup boosted their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, May 19th. Finally, Stephens reduced their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $53.38.

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.