Eos Management L.P. Takes $2.42 Million Position in Occidental Petroleum Corporation (NYSE:OXY)

Eos Management L.P. acquired a new position in Occidental Petroleum Corporation (NYSE:OXY) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 49,047 shares of the oil and gas producer’s stock, valued at approximately $2,421,000. Occidental Petroleum accounts for about 1.1% of Eos Management L.P.’s portfolio, making the stock its 23rd largest holding.

Several other large investors have also recently bought and sold shares of the company. Smith Thornton Advisors LLC lifted its stake in shares of Occidental Petroleum by 6.0% during the first quarter. Smith Thornton Advisors LLC now owns 6,808 shares of the oil and gas producer’s stock valued at $336,000 after acquiring an additional 386 shares during the period. Alaska Wealth Advisors raised its holdings in Occidental Petroleum by 38.5% during the 1st quarter. Alaska Wealth Advisors now owns 9,000 shares of the oil and gas producer’s stock worth $444,000 after purchasing an additional 2,500 shares during the last quarter. Stephens Inc. AR lifted its position in Occidental Petroleum by 6.4% during the 1st quarter. Stephens Inc. AR now owns 11,535 shares of the oil and gas producer’s stock valued at $569,000 after purchasing an additional 698 shares during the period. Arizona State Retirement System boosted its stake in shares of Occidental Petroleum by 15.1% in the 1st quarter. Arizona State Retirement System now owns 206,533 shares of the oil and gas producer’s stock valued at $10,194,000 after purchasing an additional 27,153 shares during the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management grew its position in shares of Occidental Petroleum by 13.5% during the 1st quarter. B & T Capital Management DBA Alpha Capital Management now owns 44,542 shares of the oil and gas producer’s stock worth $2,199,000 after buying an additional 5,301 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on OXY shares. Stephens cut 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. Susquehanna cut their price target on Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. TD Cowen cut Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $68.00 to $45.00 in a research note on Tuesday, April 8th. UBS Group dropped their price objective on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Finally, Mizuho decreased their target price on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $53.62.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $46.33 on Friday. 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 Corporation has a 52 week low of $34.79 and a 52 week high of $64.76. The company’s 50 day moving average price is $43.05 and its two-hundred day moving average price is $45.29. The company has a market capitalization of $45.59 billion, a P/E ratio of 18.83 and a beta of 0.84.

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, beating the consensus estimate of $0.74 by $0.13. The business had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.97 billion. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. On average, analysts expect that Occidental Petroleum Corporation 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 given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.07%. Occidental Petroleum’s dividend payout ratio is currently 39.02%.

Occidental Petroleum 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.