Flputnam Investment Management Co. Has $364,000 Stake in Occidental Petroleum Co. (NYSE:OXY)

Flputnam Investment Management Co. reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 11.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,097 shares of the oil and gas producer’s stock after selling 795 shares during the period. Flputnam Investment Management Co.’s holdings in Occidental Petroleum were worth $364,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Bourgeon Capital Management LLC lifted its position in shares of Occidental Petroleum by 33.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 3,025 shares of the oil and gas producer’s stock worth $181,000 after purchasing an additional 750 shares in the last quarter. Mackenzie Financial Corp lifted its position in Occidental Petroleum by 6.2% in the 4th quarter. Mackenzie Financial Corp now owns 33,615 shares of the oil and gas producer’s stock worth $2,007,000 after buying an additional 1,964 shares in the last quarter. Bison Wealth LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at $352,000. Cullen Investment Group LTD. purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at $1,006,000. Finally, Grove Bank & Trust increased its stake in shares of Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $66.04 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The business has a 50 day moving average price of $63.21 and a 200 day moving average price of $61.13. The company has a market cap of $58.54 billion, a price-to-earnings ratio of 16.89 and a beta of 1.64. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. Occidental Petroleum’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the company posted $1.61 earnings per share. Research analysts predict that Occidental Petroleum Co. will post 3.74 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.33%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

Analysts Set New Price Targets

OXY has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. HSBC started coverage on Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective on the stock. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Raymond James dropped their price target on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Stephens restated an “overweight” rating and set a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.06.

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.