3,511 Shares in Occidental Petroleum Co. (NYSE:OXY) Purchased by Consolidated Planning Corp

Consolidated Planning Corp acquired a new position in Occidental Petroleum Co. (NYSE:OXY) in the 4th quarter, HoldingsChannel reports. The fund acquired 3,511 shares of the oil and gas producer’s stock, valued at approximately $210,000.

Several other large investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC grew its holdings in Occidental Petroleum by 82.6% during the 3rd quarter. DAVENPORT & Co LLC now owns 11,341 shares of the oil and gas producer’s stock valued at $736,000 after buying an additional 5,130 shares in the last quarter. CX Institutional grew its holdings in Occidental Petroleum by 6.9% during the 3rd quarter. CX Institutional now owns 7,791 shares of the oil and gas producer’s stock valued at $506,000 after buying an additional 506 shares in the last quarter. Avestar Capital LLC purchased a new position in Occidental Petroleum during the 3rd quarter valued at about $200,000. Brookstone Capital Management grew its holdings in Occidental Petroleum by 6.9% during the 3rd quarter. Brookstone Capital Management now owns 13,085 shares of the oil and gas producer’s stock valued at $870,000 after buying an additional 845 shares in the last quarter. Finally, Aquila Investment Management LLC grew its holdings in Occidental Petroleum by 16.7% during the 3rd quarter. Aquila Investment Management LLC now owns 28,000 shares of the oil and gas producer’s stock valued at $1,817,000 after buying an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

NYSE:OXY traded down $0.10 during mid-day trading on Friday, reaching $67.78. The stock had a trading volume of 5,426,855 shares, compared to its average volume of 7,925,358. The firm has a 50 day moving average price of $64.27 and a two-hundred day moving average price of $61.35. The stock has a market capitalization of $60.08 billion, a P/E ratio of 17.34 and a beta of 1.64. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $7.53 billion for 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 business’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.61 EPS. As a group, analysts expect that Occidental Petroleum Co. will post 3.85 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were paid a $0.22 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Thursday, March 7th. Occidental Petroleum’s payout ratio is 22.51%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Susquehanna lifted their target price on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Raymond James dropped their price target on 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. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $63.00 to $90.00 in a research report on Thursday, April 11th. Barclays initiated coverage on Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $71.94.

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.