Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 600,472 shares of the oil and gas producer’s stock after purchasing an additional 7,815 shares during the period. Fisher Asset Management LLC’s holdings in Occidental Petroleum were worth $35,854,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its position in Occidental Petroleum by 8.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock valued at $10,139,000 after buying an additional 12,349 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in Occidental Petroleum by 8.9% during the 4th quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock valued at $343,000 after purchasing an additional 474 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Occidental Petroleum during the 3rd quarter worth approximately $29,665,000. Cullen Investment Group LTD. acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $1,006,000. Finally, Koshinski Asset Management Inc. boosted its stake in shares of Occidental Petroleum by 53.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock valued at $2,877,000 after buying an additional 16,871 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OXY. Raymond James cut their price objective 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. Mizuho lifted their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. HSBC began coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They issued a “hold” rating and a $65.00 price target on the stock. Stephens reaffirmed an “overweight” rating and set a $74.00 price objective on shares of Occidental Petroleum in a research report on Thursday, February 15th. Finally, Susquehanna raised their target price on shares of Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $71.94.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $64.39 on Friday. The firm’s 50-day simple moving average is $64.80 and its 200 day simple moving average is $61.42. The stock has a market cap of $57.08 billion, a P/E ratio of 16.47 and a beta of 1.64. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. Equities analysts expect that Occidental Petroleum Co. will post 3.81 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be given a $0.22 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.88 annualized dividend and a yield of 1.37%. Occidental Petroleum’s dividend payout ratio (DPR) 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.