Bison Wealth LLC Acquires New Stake in Occidental Petroleum Co. (NYSE:OXY)

Bison Wealth LLC bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,902 shares of the oil and gas producer’s stock, valued at approximately $352,000.

A number of other large investors have also recently made changes to their positions in OXY. Oppenheimer & Co. Inc. increased its holdings in Occidental Petroleum by 8.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock worth $10,139,000 after purchasing an additional 12,349 shares during the period. SeaCrest Wealth Management LLC raised its holdings in shares of Occidental Petroleum by 8.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock valued at $343,000 after acquiring an additional 474 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Occidental Petroleum in the third quarter worth about $29,665,000. Koshinski Asset Management Inc. lifted its stake in Occidental Petroleum by 53.9% in the fourth quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock worth $2,877,000 after acquiring an additional 16,871 shares during the period. Finally, Calamos Wealth Management LLC bought a new position in Occidental Petroleum during the 3rd quarter worth about $5,758,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Down 2.2 %

Occidental Petroleum stock opened at $66.81 on Wednesday. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 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. The company has a market capitalization of $59.23 billion, a price-to-earnings ratio of 17.09 and a beta of 1.64. The stock has a 50-day moving average price of $62.88 and a 200 day moving average price of $61.06.

Occidental Petroleum (NYSE:OXY) last issued its earnings results 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 firm had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.61 earnings per share. Sell-side analysts anticipate that Occidental Petroleum Co. will post 3.81 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders 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 yield of 1.32%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OXY shares. Wells Fargo & Company upped their price target on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Morgan Stanley upped their target price on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Barclays assumed coverage on Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price target on the stock. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. Finally, Stephens reiterated an “overweight” rating and issued a $74.00 target price on shares of Occidental Petroleum in a research note on Thursday, February 15th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.06.

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.