MFG Wealth Management Inc. Takes $1.40 Million Position in Occidental Petroleum Corporation (NYSE:OXY)

MFG Wealth Management Inc. purchased a new position in shares of Occidental Petroleum Corporation (NYSE:OXY) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 28,452 shares of the oil and gas producer’s stock, valued at approximately $1,404,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Howard Capital Management Inc. increased its position in shares of Occidental Petroleum by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock worth $209,000 after purchasing an additional 216 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Occidental Petroleum during the fourth quarter worth about $179,000. Y Intercept Hong Kong Ltd purchased a new stake in Occidental Petroleum during the 4th quarter valued at about $1,054,000. Illinois Municipal Retirement Fund raised its holdings in Occidental Petroleum by 20.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 181,429 shares of the oil and gas producer’s stock valued at $8,964,000 after acquiring an additional 30,416 shares during the last quarter. Finally, Oakwell Private Wealth Management LLC purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $401,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Down 0.0%

Shares of NYSE:OXY opened at $42.47 on Thursday. The firm’s 50-day moving average is $42.08 and its two-hundred day moving average is $45.58. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. Occidental Petroleum Corporation has a 1 year low of $34.79 and a 1 year high of $64.76. The firm has a market capitalization of $41.80 billion, a PE ratio of 17.26 and a beta of 0.87.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. Analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued 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 yield of 2.26%. Occidental Petroleum’s dividend payout ratio (DPR) is 39.02%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. UBS Group dropped their price target on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Stephens dropped their target price on Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Mizuho reduced their price target on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the stock an “overweight” rating in a research report on Wednesday, March 26th. Finally, Barclays increased their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $53.14.

Occidental Petroleum Company 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.