Cary Street Partners Financial LLC Takes $165,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Cary Street Partners Financial LLC bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, HoldingsChannel.com reports. The firm bought 3,330 shares of the oil and gas producer’s stock, valued at approximately $165,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in shares of Occidental Petroleum during the 4th quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter valued at about $27,000. VSM Wealth Advisory LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $27,000. Atala Financial Inc purchased a new position in shares of Occidental Petroleum in the 4th quarter worth approximately $40,000. Finally, Millstone Evans Group LLC bought a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $42,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 2.0%

NYSE:OXY opened at $42.25 on Monday. The firm has a market capitalization of $41.58 billion, a P/E ratio of 17.32 and a beta of 0.81. The company’s fifty day moving average price is $42.96 and its 200-day moving average price is $47.19. Occidental Petroleum Co. has a 1-year low of $34.79 and a 1-year high of $64.76. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The business had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be given a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.27%. Occidental Petroleum’s dividend payout ratio is presently 39.02%.

Analyst Ratings Changes

Several equities research analysts have weighed in on OXY shares. Truist Financial raised their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. UBS Group dropped their target price on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Barclays increased their price target on Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday. Stephens dropped their price target on Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Finally, TD Cowen downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and cut their price objective for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.