Jackson Creek Investment Advisors LLC Takes $224,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Jackson Creek Investment Advisors LLC purchased a new position in Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,757 shares of the oil and gas producer’s stock, valued at approximately $224,000.

Several other institutional investors also recently added to or reduced their stakes in OXY. Norden Group LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at $202,000. Kestra Private Wealth Services LLC raised its stake in Occidental Petroleum by 12.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 12,592 shares of the oil and gas producer’s stock valued at $752,000 after acquiring an additional 1,354 shares during the period. Van ECK Associates Corp lifted its holdings in Occidental Petroleum by 18.1% during the fourth quarter. Van ECK Associates Corp now owns 27,240 shares of the oil and gas producer’s stock valued at $1,627,000 after purchasing an additional 4,176 shares during the last quarter. Greatmark Investment Partners Inc. boosted its position in Occidental Petroleum by 1.5% during the fourth quarter. Greatmark Investment Partners Inc. now owns 13,180 shares of the oil and gas producer’s stock worth $787,000 after purchasing an additional 200 shares during the period. Finally, Skylands Capital LLC increased its stake in shares of Occidental Petroleum by 24,873.4% in the fourth quarter. Skylands Capital LLC now owns 61,934 shares of the oil and gas producer’s stock worth $3,698,000 after purchasing an additional 61,686 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OXY shares. Raymond James cut their price objective on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Susquehanna boosted their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Barclays started coverage on Occidental Petroleum in a report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price for the company. HSBC began coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. Finally, Morgan Stanley increased their target price on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Trading Down 2.6 %

Shares of OXY stock opened at $64.45 on Thursday. 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 business has a 50-day moving average of $64.63 and a 200 day moving average of $61.40. The stock has a market capitalization of $57.13 billion, a PE ratio of 16.48 and a beta of 1.64. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm had revenue of $7.53 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter last year, the business earned $1.61 earnings per share. The business’s revenue was down 9.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.85 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were given 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 dividend on an annualized basis and a yield of 1.37%. Occidental Petroleum’s dividend payout ratio is presently 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.