Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 24.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,792 shares of the oil and gas producer’s stock after buying an additional 4,530 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Occidental Petroleum were worth $1,125,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in OXY. Benchmark Investment Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter worth $642,000. Fisher Asset Management LLC raised its position in shares of Occidental Petroleum by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer’s stock worth $30,320,000 after purchasing an additional 6,461 shares during the last quarter. Mountain Lake Investment Management LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $618,000. Milestones Administradora de Recursos Ltda. raised its position in shares of Occidental Petroleum by 10.6% during the 4th quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer’s stock worth $9,577,000 after purchasing an additional 18,500 shares during the last quarter. Finally, Sage Investment Counsel LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $499,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. TD Cowen cut Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their target price for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. JPMorgan Chase & Co. cut their target price on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Barclays raised their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. Wall Street Zen downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Finally, Susquehanna dropped their target price on shares of Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. Three 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. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $53.14.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $43.89 on Wednesday. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $64.76. The company has a market cap of $43.20 billion, a P/E ratio of 17.99 and a beta of 0.87. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm has a fifty day moving average price of $40.64 and a 200 day moving average price of $45.93.

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, beating the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.97 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Sell-side analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company 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 $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum’s payout ratio is currently 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.