Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers increased its stake in Occidental Petroleum Co. (NYSE:OXY) by 45.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 258,303 shares of the oil and gas producer’s stock after buying an additional 80,883 shares during the period. Cetera Investment Advisers’ holdings in Occidental Petroleum were worth $12,763,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of OXY. Brevan Howard Capital Management LP purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $371,000. Bramshill Investments LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $568,000. Bridgefront Capital LLC raised its holdings in shares of Occidental Petroleum by 12.8% in the 4th quarter. Bridgefront Capital LLC now owns 29,615 shares of the oil and gas producer’s stock worth $1,463,000 after purchasing an additional 3,356 shares during the period. Cantor Fitzgerald L. P. acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at about $1,446,000. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter worth about $165,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $42.25 on Friday. The firm has a market cap of $39.71 billion, a PE ratio of 17.32 and a beta of 0.81. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $64.76. The firm’s 50-day simple moving average is $42.96 and its 200-day simple moving average is $47.22. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter last year, the business posted $0.63 EPS. Occidental Petroleum’s quarterly revenue was up 13.9% compared to the same quarter last year. Equities analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 annualized dividend and a yield of 2.27%. Occidental Petroleum’s payout ratio is 39.34%.

Analyst Ratings Changes

A number of brokerages have weighed in on OXY. TD Cowen cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price target for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a report on Thursday, January 23rd. UBS Group lowered their price target on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Scotiabank cut Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 price objective on the stock. in a research note on Friday, April 11th. Finally, Morgan Stanley set a $58.00 target price on Occidental Petroleum and gave the company an “overweight” rating in a research note on Wednesday, March 26th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $54.05.

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.