Peterson Wealth Services Boosts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Peterson Wealth Services boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,311 shares of the oil and gas producer’s stock after purchasing an additional 210 shares during the period. Peterson Wealth Services’ holdings in Occidental Petroleum were worth $2,407,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OXY. Moneta Group Investment Advisors LLC purchased a new position in Occidental Petroleum during the fourth quarter worth approximately $267,173,000. Bank of New York Mellon Corp raised its stake in Occidental Petroleum by 24.1% during 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 purchasing an additional 2,334,651 shares during the period. American Century Companies Inc. raised its stake in Occidental Petroleum by 600.4% during the third quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock worth $145,520,000 after purchasing an additional 1,922,656 shares during the period. First Trust Advisors LP raised its stake in Occidental Petroleum by 87.9% during the first quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer’s stock worth $185,885,000 after purchasing an additional 1,532,100 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Occidental Petroleum by 22.2% during the fourth 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 during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.3 %

Shares of OXY traded up $0.19 during midday trading on Thursday, hitting $66.17. The company had a trading volume of 1,662,737 shares, compared to its average volume of 8,719,786. The company’s 50 day moving average price is $63.05 and its 200 day moving average price is $61.09. The stock has a market cap of $58.66 billion, a price-to-earnings ratio of 16.87 and a beta of 1.64. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting 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 the consensus estimate of $6.93 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities research analysts predict that Occidental Petroleum Co. will post 3.74 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Raymond James cut their target price 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. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Wells Fargo & Company raised their target price on shares of Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Finally, Mizuho raised their target price on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.06.

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.