Occidental Petroleum Co. (NYSE:OXY) Holdings Boosted by Sterling Investment Management LLC

Sterling Investment Management LLC boosted its stake in Occidental Petroleum Co. (NYSE:OXY) by 94.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,553 shares of the oil and gas producer’s stock after purchasing an additional 34,248 shares during the period. Occidental Petroleum comprises 3.1% of Sterling Investment Management LLC’s investment portfolio, making the stock its 7th largest position. Sterling Investment Management LLC’s holdings in Occidental Petroleum were worth $4,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Glenview Trust Co increased its stake in Occidental Petroleum by 3.3% in the 2nd quarter. Glenview Trust Co now owns 4,932 shares of the oil and gas producer’s stock worth $290,000 after purchasing an additional 159 shares during the period. Everhart Financial Group Inc. grew its position in shares of Occidental Petroleum by 2.3% in the 3rd quarter. Everhart Financial Group Inc. now owns 7,457 shares of the oil and gas producer’s stock worth $484,000 after buying an additional 169 shares during the last quarter. PFG Investments LLC grew its position in shares of Occidental Petroleum by 2.7% in the 3rd quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer’s stock worth $417,000 after buying an additional 170 shares during the last quarter. VisionPoint Advisory Group LLC grew its position in shares of Occidental Petroleum by 1.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock worth $957,000 after buying an additional 174 shares during the last quarter. Finally, Conning Inc. grew its position in shares of Occidental Petroleum by 3.6% in the 3rd quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer’s stock worth $334,000 after buying an additional 180 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Up 1.4 %

OXY stock opened at $64.21 on Thursday. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $67.67. The business has a fifty day moving average price of $59.84 and a 200-day moving average price of $60.79. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. The stock has a market capitalization of $56.92 billion, a P/E ratio of 16.42 and a beta of 1.63.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share 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 return on equity of 20.63% and a net margin of 16.24%. The company’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.61 earnings per share. Equities analysts forecast that Occidental Petroleum Co. will post 3.56 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 8th will be given a $0.22 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, March 7th. This represents a $0.88 dividend on an annualized basis and a yield of 1.37%. Occidental Petroleum’s dividend payout ratio is presently 22.51%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OXY. Mizuho lifted their price objective on Occidental Petroleum from $63.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. dropped their price target on Occidental Petroleum from $78.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday, December 8th. Raymond James dropped their price target on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Wells Fargo & Company lifted their price target on Occidental Petroleum from $59.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 16th. Finally, StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.94.

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.