DDD Partners LLC Buys Shares of 14,570 Occidental Petroleum Corporation (NYSE:OXY)

DDD Partners LLC bought a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,570 shares of the oil and gas producer’s stock, valued at approximately $719,000.

Other large investors also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new position in Occidental Petroleum in the fourth quarter valued at about $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $27,000. Bernard Wealth Management Corp. acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $32,000. Grove Bank & Trust lifted its position in shares of Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 407 shares in the last quarter. Finally, American National Bank & Trust acquired a new stake in shares of Occidental Petroleum during the first quarter worth about $39,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY opened at $42.77 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90. The firm has a market cap of $42.09 billion, a PE ratio of 17.39 and a beta of 0.84. The company’s 50 day simple moving average is $43.25 and its 200-day simple moving average is $45.23. Occidental Petroleum Corporation has a 12-month low of $34.79 and a 12-month high of $64.76.

Occidental Petroleum (NYSE:OXY) last announced 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 for 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%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. As a group, equities analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio is presently 39.02%.

Analyst Ratings Changes

Several analysts have recently issued reports on OXY shares. Citigroup increased their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, May 19th. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the stock an “overweight” rating in a research report on Wednesday, March 26th. JPMorgan Chase & Co. increased their price target on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday. Barclays increased their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Finally, Hsbc Global Res upgraded shares of Occidental Petroleum to a “hold” rating in a research note on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $53.62.

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.