Consolidated Planning Corp Buys Shares of 3,511 Occidental Petroleum Co. (NYSE:OXY)

Consolidated Planning Corp bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,511 shares of the oil and gas producer’s stock, valued at approximately $210,000.

Other large investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Occidental Petroleum during the 3rd quarter valued at about $26,000. Orion Capital Management LLC acquired a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $27,000. TLW Wealth Management LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $28,000. Grove Bank & Trust raised its position in shares of Occidental Petroleum by 86.0% in the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 240 shares during the period. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $34,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Down 0.1 %

Shares of NYSE:OXY traded down $0.10 during midday trading on Friday, hitting $67.78. The stock had a trading volume of 5,426,855 shares, compared to its average volume of 7,925,358. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month 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. The business’s 50-day simple moving average is $64.27 and its 200-day simple moving average is $61.35. The company has a market cap of $60.08 billion, a P/E ratio of 17.34 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share 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 during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the business earned $1.61 earnings per share. The firm’s revenue was down 9.6% on a year-over-year basis. On average, sell-side analysts forecast that Occidental Petroleum Co. will post 3.85 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed 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 represents a $0.88 dividend on an annualized basis and a yield of 1.30%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum’s payout ratio is 22.51%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stephens reiterated an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a research report on Thursday, February 15th. HSBC began coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 target price on the stock. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Truist Financial raised their target price on shares of Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $63.00 to $90.00 in a report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $71.94.

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.