Traynor Capital Management Inc. Has $224,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Traynor Capital Management Inc. lowered its holdings in Occidental Petroleum Co. (NYSE:OXY) by 20.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,748 shares of the oil and gas producer’s stock after selling 941 shares during the quarter. Traynor Capital Management Inc.’s holdings in Occidental Petroleum were worth $224,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Occidental Petroleum during the 3rd quarter worth $26,000. Orion Capital Management LLC purchased a new position in Occidental Petroleum during the 3rd quarter worth $27,000. TLW Wealth Management LLC purchased a new position in Occidental Petroleum during the 4th quarter worth $28,000. BKM Wealth Management LLC purchased a new position in Occidental Petroleum during the 4th quarter worth $35,000. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OXY shares. Morgan Stanley boosted their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday. Stephens reissued an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, February 15th. Wells Fargo & Company boosted their price target on shares of Occidental Petroleum from $59.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 16th. Mizuho boosted their price target on shares of Occidental Petroleum from $63.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. Finally, Raymond James cut their price target on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.20.

Occidental Petroleum Price Performance

Shares of NYSE OXY traded up $0.79 during midday trading on Friday, hitting $64.99. 7,159,609 shares of the company’s stock were exchanged, compared to its average volume of 6,885,965. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $67.67. 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 market cap of $57.61 billion, a price-to-earnings ratio of 16.62 and a beta of 1.63. The business’s fifty day moving average price is $60.00 and its two-hundred day moving average price is $60.82.

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. The business had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. Occidental Petroleum’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 earnings per share. As a group, research analysts forecast that Occidental Petroleum Co. will post 3.56 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 8th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, March 7th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio is 22.51%.

About Occidental Petroleum

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.