106,063 Shares in Occidental Petroleum Co. (NYSE:OXY) Acquired by TCW Group Inc.

TCW Group Inc. purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 106,063 shares of the oil and gas producer’s stock, valued at approximately $6,361,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Occidental Petroleum during the 3rd quarter valued at approximately $26,000. Orion Capital Management LLC purchased a new position in Occidental Petroleum in the third quarter valued at about $27,000. TLW Wealth Management LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at about $28,000. Grove Bank & Trust grew its stake in Occidental Petroleum by 86.0% in the fourth 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 in the last quarter. Finally, Criterion Capital Advisors LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at about $34,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on OXY. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Morgan Stanley boosted their target price on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Stephens reiterated an “overweight” rating and set a $74.00 price target on shares of Occidental Petroleum in a research note on Thursday, February 15th. Citigroup decreased their price target on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Wells Fargo & Company decreased their price target on Occidental Petroleum from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Eleven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $70.94.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded down $0.05 during trading on Friday, reaching $61.91. 2,850,661 shares of the stock were exchanged, compared to its average volume of 8,116,426. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18. The firm has a market cap of $54.89 billion, a PE ratio of 17.03 and a beta of 1.64. The stock has a 50-day moving average price of $65.48 and a 200-day moving average price of $61.42. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. Occidental Petroleum’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share. Research analysts expect that Occidental Petroleum Co. will post 3.89 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.42%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

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.