Joule Financial LLC Has $506,000 Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Joule Financial LLC boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,244 shares of the oil and gas producer’s stock after buying an additional 649 shares during the period. Joule Financial LLC’s holdings in Occidental Petroleum were worth $506,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in Occidental Petroleum during the 4th quarter valued at about $26,000. VSM Wealth Advisory LLC purchased a new position in Occidental Petroleum during the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum in the 4th quarter valued at approximately $27,000. Bernard Wealth Management Corp. purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at $32,000. Finally, American National Bank & Trust purchased a new position in shares of Occidental Petroleum during the 1st quarter valued at $39,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on OXY shares. Wells Fargo & Company reduced their price target on Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Raymond James lowered shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $81.00 to $64.00 in a research note on Monday, March 10th. TD Cowen downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and lowered their target price for the stock from $68.00 to $45.00 in a research report on Tuesday, April 8th. Hsbc Global Res upgraded shares of Occidental Petroleum to a “hold” rating in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. dropped their price objective on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $53.14.

Occidental Petroleum Stock Up 1.8%

Shares of NYSE:OXY opened at $42.58 on Friday. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $64.76. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $40.76 and its two-hundred day moving average price is $46.08. The firm has a market cap of $41.90 billion, a P/E ratio of 17.45 and a beta of 0.87.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The firm had revenue of $6.80 billion for 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 business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. As a group, research analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.25%. Occidental Petroleum’s payout ratio is presently 39.02%.

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.