GAMMA Investing LLC Acquires New Position in Occidental Petroleum Co. (NYSE:OXY)

GAMMA Investing LLC acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,912 shares of the oil and gas producer’s stock, valued at approximately $168,000.

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

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $67.78 on Friday. Occidental Petroleum Co. has a 52-week low of $55.12 and a 52-week high of $71.18. The company’s 50 day moving average is $64.27 and its two-hundred day moving average is $61.37. 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 firm has a market cap of $60.08 billion, a PE ratio of 17.34 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the firm posted $1.61 EPS. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, research analysts expect that Occidental Petroleum Co. will post 3.85 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. Shareholders of record on Friday, March 8th were given a $0.22 dividend. The ex-dividend date was Thursday, March 7th. This is an increase 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 1.30%. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

Wall Street Analysts Forecast Growth

OXY has been the topic of several recent analyst reports. Truist Financial boosted their target price on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a report on Friday, April 5th. Morgan Stanley boosted their target price on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Wells Fargo & Company upped their price objective on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Scotiabank upgraded shares of 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 report on Thursday, April 11th. Finally, Raymond James decreased their price objective on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $71.94.

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.