Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 78.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,784 shares of the oil and gas producer’s stock after purchasing an additional 6,069 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Occidental Petroleum were worth $823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in Occidental Petroleum by 24.1% during the third quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock valued at $779,983,000 after acquiring an additional 2,334,651 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Occidental Petroleum by 22.2% in the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after purchasing an additional 1,088,052 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Occidental Petroleum by 2.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,035,799 shares of the oil and gas producer’s stock worth $285,732,000 after buying an additional 118,928 shares in the last quarter. Invesco Ltd. grew its position in Occidental Petroleum by 2.8% during the third quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer’s stock valued at $302,697,000 after buying an additional 125,927 shares during the period. Finally, Moneta Group Investment Advisors LLC acquired a new stake in Occidental Petroleum during the fourth quarter valued at $267,173,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. HSBC started coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They set a “hold” rating and a $65.00 target price on the stock. Morgan Stanley boosted their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. Wells Fargo & Company lifted their price target on shares of 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, Raymond James reduced their price objective on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.06.

Occidental Petroleum Price Performance

NYSE:OXY opened at $66.63 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. The stock has a market cap of $59.07 billion, a PE ratio of 17.04 and a beta of 1.64. The stock has a 50 day moving average price of $63.39 and a 200 day moving average price of $61.16. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18.

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

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were paid 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 1.32%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio (DPR) is currently 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.