Occidental Petroleum Co. (NYSE:OXY) Position Boosted by OLD National Bancorp IN

OLD National Bancorp IN raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 52.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,991 shares of the oil and gas producer’s stock after acquiring an additional 2,051 shares during the quarter. OLD National Bancorp IN’s holdings in Occidental Petroleum were worth $358,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Occidental Petroleum during the 3rd quarter valued at about $26,000. Orion Capital Management LLC purchased a new position in Occidental Petroleum during the 3rd quarter valued at about $27,000. TLW Wealth Management LLC purchased a new position in Occidental Petroleum during the 4th quarter valued at about $28,000. Grove Bank & Trust grew its stake in Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC purchased a new position in Occidental Petroleum during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Raymond James lowered their target price on 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. Barclays began coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price target for the company. Mizuho boosted their price target on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Wells Fargo & Company boosted their price target 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. Finally, StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $71.94.

Occidental Petroleum Stock Down 0.1 %

Shares of Occidental Petroleum stock opened at $67.33 on Thursday. The stock has a market capitalization of $59.69 billion, a P/E ratio of 17.22 and a beta of 1.64. 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 stock has a 50 day moving average price of $63.97 and a two-hundred day moving average price of $61.29. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. The firm had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 earnings per share. Equities analysts expect that Occidental Petroleum Co. will post 3.85 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, March 7th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.31%. Occidental Petroleum’s payout ratio is 22.51%.

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.