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Concurrent Investment Advisors LLC grew its position in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 61.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,084 shares of the oil and gas producer’s stock after acquiring an additional 2,696 shares during the period. Concurrent Investment Advisors LLC’s holdings in Occidental Petroleum were worth $350,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of OXY. Altshuler Shaham Ltd bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $27,000. Bernard Wealth Management Corp. acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $32,000. Grove Bank & Trust increased its holdings in shares of Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 407 shares in the last quarter. Finally, American National Bank & Trust acquired a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $39,000. Institutional investors own 88.70% of the company’s stock.
Occidental Petroleum Trading Up 1.0%
OXY opened at $46.33 on Friday. The stock has a market capitalization of $45.59 billion, a P/E ratio of 18.83 and a beta of 0.84. Occidental Petroleum Corporation has a 12 month low of $34.79 and a 12 month high of $64.76. The firm’s fifty day simple moving average is $43.05 and its 200 day simple moving average is $45.31. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90.
Occidental Petroleum (NYSE:OXY – Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. The business had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.97 billion. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. As a group, research analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.
Occidental Petroleum Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.07%. Occidental Petroleum’s dividend payout ratio is currently 39.02%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Stephens lowered their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. UBS Group lowered their target price on shares of Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Barclays lifted their target price on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. Mizuho lowered their target price on shares of Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $53.62.
View Our Latest Stock Report on Occidental Petroleum
Occidental Petroleum 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.
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