Rakuten Securities Inc. Takes $376,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Rakuten Securities Inc. acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 6,297 shares of the oil and gas producer’s stock, valued at approximately $376,000.

A number of other large investors have also recently made changes to their positions in the stock. Tyche Wealth Partners LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at about $281,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Occidental Petroleum by 53.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 230,742 shares of the oil and gas producer’s stock worth $13,778,000 after purchasing an additional 80,194 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $2,565,000. Peirce Capital Management LLC purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $283,000. Finally, SVB Wealth LLC lifted its holdings in Occidental Petroleum by 2.5% in the 4th quarter. SVB Wealth LLC now owns 12,575 shares of the oil and gas producer’s stock worth $751,000 after purchasing an additional 308 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OXY has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Stephens reissued an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, February 15th. Raymond James lowered their price target on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Mizuho lifted their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, Barclays assumed coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective on the stock. 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.06.

Occidental Petroleum Trading Down 2.2 %

Shares of NYSE OXY traded down $1.52 during trading hours on Wednesday, hitting $66.82. 12,447,987 shares of the company traded hands, compared to its average volume of 7,474,428. The stock has a market capitalization of $59.23 billion, a price-to-earnings ratio of 17.09 and a beta of 1.64. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The company’s 50 day moving average price is $62.88 and its 200 day moving average price is $61.06. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY) last released 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 firm had revenue of $7.53 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS. On average, equities research analysts anticipate that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm 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. This represents a $0.88 annualized dividend and a yield of 1.32%. The ex-dividend date was Thursday, March 7th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio is 22.51%.

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.