PFG Investments LLC Grows Position in Occidental Petroleum Co. (NYSE:OXY)

PFG Investments LLC raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 14.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,323 shares of the oil and gas producer’s stock after acquiring an additional 900 shares during the period. PFG Investments LLC’s holdings in Occidental Petroleum were worth $437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Berkshire Hathaway Inc raised its holdings in shares of Occidental Petroleum by 5.9% in the 2nd quarter. Berkshire Hathaway Inc now owns 224,129,192 shares of the oil and gas producer’s stock valued at $13,178,796,000 after acquiring an additional 12,422,073 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Occidental Petroleum by 24.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock valued at $779,983,000 after buying an additional 2,334,651 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Occidental Petroleum by 22.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after buying an additional 1,088,052 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Occidental Petroleum by 2.4% during 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 buying an additional 118,928 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of 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 buying an additional 125,927 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $64.21 on Thursday. The firm has a market cap of $56.92 billion, a P/E ratio of 16.42 and a beta of 1.63. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $67.67. The business’s 50 day moving average price is $59.84 and its 200-day moving average price is $60.79. 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 (NYSE:OXY) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The firm had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the company earned $1.61 EPS. On average, equities research analysts anticipate that Occidental Petroleum Co. will post 3.56 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 8th will be given a $0.22 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Thursday, March 7th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Truist Financial decreased their price objective on Occidental Petroleum from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Morgan Stanley raised Occidental Petroleum from an “equal weight” rating to an “overweight” rating and set a $68.00 price objective on the stock in a report on Monday, December 11th. Stephens reissued an “overweight” rating and set a $74.00 price objective on shares of Occidental Petroleum in a report on Thursday, February 15th. Mizuho raised their price objective on Occidental Petroleum from $63.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. reduced their price target on Occidental Petroleum from $78.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday, December 8th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.94.

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.