GAMMA Investing LLC Invests $168,000 in Occidental Petroleum Co. (NYSE:OXY)

GAMMA Investing LLC bought a new stake in Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,912 shares of the oil and gas producer’s stock, valued at approximately $168,000.

Other institutional investors have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Occidental Petroleum in the third quarter valued at approximately $26,000. Orion Capital Management LLC purchased a new stake in Occidental Petroleum in the third quarter valued at approximately $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at approximately $28,000. Grove Bank & Trust lifted its position in Occidental Petroleum by 86.0% during the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at approximately $34,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Down 0.1 %

Shares of NYSE:OXY opened at $67.78 on Friday. 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 has a fifty day simple moving average of $64.27 and a 200 day simple moving average of $61.37. The firm has a market cap of $60.08 billion, a PE ratio of 17.34 and a beta of 1.64. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The business’s revenue was down 9.6% compared to the same quarter last year. On average, equities research analysts anticipate that Occidental Petroleum Co. will post 3.85 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders 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 1.30%. Occidental Petroleum’s payout ratio is presently 22.51%.

Wall Street Analyst Weigh In

OXY has been the topic of a number of recent research reports. Barclays initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target on the stock. 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 research report on Thursday, March 28th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, HSBC initiated coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.