Bison Wealth LLC Invests $352,000 in Occidental Petroleum Co. (NYSE:OXY)

Bison Wealth LLC bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 5,902 shares of the oil and gas producer’s stock, valued at approximately $352,000.

Several other institutional investors and hedge funds have also bought and sold shares of OXY. Bank of New York Mellon Corp boosted its holdings in Occidental Petroleum by 24.1% in the third quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock worth $779,983,000 after acquiring an additional 2,334,651 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Occidental Petroleum by 22.2% in the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock worth $357,977,000 after purchasing an additional 1,088,052 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Occidental Petroleum by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,035,799 shares of the oil and gas producer’s stock valued at $285,732,000 after purchasing an additional 118,928 shares during the period. Invesco Ltd. increased its stake in Occidental Petroleum by 2.8% during the 3rd quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer’s stock valued at $302,697,000 after purchasing an additional 125,927 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter worth $267,173,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Down 2.2 %

OXY stock opened at $66.81 on Wednesday. The company has a market capitalization of $59.23 billion, a PE ratio of 17.09 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18. The company’s 50 day moving average price is $62.88 and its two-hundred day moving average price is $61.06.

Occidental Petroleum (NYSE:OXY) last posted its quarterly 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. The business had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company’s revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 earnings per share. As a group, analysts predict that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. HSBC started coverage on Occidental Petroleum in a research report on Monday, April 8th. They issued a “hold” rating and a $65.00 price target for the company. Barclays initiated coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price on the stock. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Truist Financial increased their target price on shares of Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.06.

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.