Targeted Financial Services LLC Invests $399,000 in Occidental Petroleum Corporation $OXY

Targeted Financial Services LLC purchased a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,700 shares of the oil and gas producer’s stock, valued at approximately $399,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitlin John LLC purchased a new position in Occidental Petroleum during the fourth quarter worth $29,000. Activest Wealth Management increased its position in Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 305 shares during the last quarter. Rossby Financial LCC increased its holdings in shares of Occidental Petroleum by 155.0% during the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 465 shares during the last quarter. Binnacle Investments Inc purchased a new position in shares of Occidental Petroleum in the 3rd quarter worth about $35,000. Finally, McMillan Office Inc. purchased a new position in Occidental Petroleum in the fourth quarter valued at approximately $35,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on OXY. HSBC boosted their target price on shares of Occidental Petroleum from $59.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Wall Street Zen raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Susquehanna increased their target price on shares of Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a report on Tuesday, April 21st. TD Cowen increased their price target on Occidental Petroleum from $48.00 to $54.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Finally, Barclays raised shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $59.00 to $72.00 in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $63.74.

Occidental Petroleum Price Performance

OXY opened at $51.75 on Friday. The stock has a fifty day moving average price of $56.94 and a 200 day moving average price of $51.47. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The stock has a market cap of $51.47 billion, a price-to-earnings ratio of 13.03 and a beta of 0.14. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.46. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 EPS. Analysts forecast that Occidental Petroleum Corporation will post 5.79 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio is currently 26.20%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.