Greatmark Investment Partners Inc. Increases Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Greatmark Investment Partners Inc. lifted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,180 shares of the oil and gas producer’s stock after purchasing an additional 200 shares during the period. Greatmark Investment Partners Inc.’s holdings in Occidental Petroleum were worth $787,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Occidental Petroleum during the 3rd quarter worth approximately $26,000. Orion Capital Management LLC acquired a new position in Occidental Petroleum during the 3rd quarter valued at approximately $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum during the 4th quarter valued at approximately $28,000. Grove Bank & Trust increased its stake in Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on OXY shares. Susquehanna upped their price target on shares of 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 shares of Occidental Petroleum in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target on the stock. 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 research note on Wednesday, January 24th. Stephens reiterated an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research note on Thursday, February 15th. Finally, Mizuho increased their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $71.94.

Occidental Petroleum Stock Performance

OXY stock traded up $0.33 during midday trading on Monday, hitting $68.11. 3,517,690 shares of the stock traded hands, compared to its average volume of 8,543,413. The firm has a market cap of $60.38 billion, a P/E ratio of 17.33 and a beta of 1.64. 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 stock’s fifty day simple moving average is $64.27 and its 200-day simple moving average is $61.33. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the business earned $1.61 earnings per share. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, analysts expect that Occidental Petroleum Co. will post 3.85 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were given a $0.22 dividend. 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 dividend yield of 1.29%. Occidental Petroleum’s dividend payout ratio (DPR) 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.