Institute for Wealth Management LLC. Has $823,000 Stake in Occidental Petroleum Co. (NYSE:OXY)

Institute for Wealth Management LLC. lifted its stake in Occidental Petroleum Co. (NYSE:OXY) by 78.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,784 shares of the oil and gas producer’s stock after buying an additional 6,069 shares during the period. Institute for Wealth Management LLC.’s holdings in Occidental Petroleum were worth $823,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Obermeyer Wood Investment Counsel Lllp boosted its holdings in Occidental Petroleum by 9.0% during the fourth quarter. Obermeyer Wood Investment Counsel Lllp now owns 6,111 shares of the oil and gas producer’s stock valued at $365,000 after purchasing an additional 504 shares in the last quarter. Xponance Inc. grew its position in Occidental Petroleum by 5.7% in the fourth quarter. Xponance Inc. now owns 84,396 shares of the oil and gas producer’s stock valued at $5,039,000 after acquiring an additional 4,534 shares during the period. CapWealth Advisors LLC raised its stake in Occidental Petroleum by 8.1% during the fourth quarter. CapWealth Advisors LLC now owns 5,943 shares of the oil and gas producer’s stock worth $355,000 after acquiring an additional 443 shares in the last quarter. Peterson Wealth Services boosted its stake in shares of Occidental Petroleum by 0.5% in the 4th quarter. Peterson Wealth Services now owns 40,311 shares of the oil and gas producer’s stock valued at $2,407,000 after purchasing an additional 210 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Occidental Petroleum by 3.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 60,040 shares of the oil and gas producer’s stock worth $3,585,000 after purchasing an additional 2,031 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $66.63 on Friday. The firm has a fifty day moving average of $63.39 and a two-hundred day moving average of $61.16. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. The stock has a market capitalization of $59.07 billion, a price-to-earnings ratio of 17.04 and a beta of 1.64. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18.

Occidental Petroleum (NYSE:OXY) last released 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 return on equity of 20.63% and a net margin of 16.24%. The business had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. The firm’s revenue was down 9.6% on a year-over-year basis. As a group, equities research analysts predict that Occidental Petroleum Co. will post 3.74 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were paid a dividend of $0.22 per share. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 7th. This represents a $0.88 annualized dividend and a yield of 1.32%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OXY. Morgan Stanley lifted their price target 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. Barclays started coverage on Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price on the stock. Wells Fargo & Company lifted their price objective 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. Truist Financial increased their target price on Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, Stephens reaffirmed an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, February 15th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.06.

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.