Simplicity Solutions LLC Buys 861 Shares of Occidental Petroleum Co. (NYSE:OXY)

Simplicity Solutions LLC grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,151 shares of the oil and gas producer’s stock after buying an additional 861 shares during the period. Simplicity Solutions LLC’s holdings in Occidental Petroleum were worth $546,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $267,173,000. Bank of New York Mellon Corp increased its position in shares of 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 purchasing an additional 2,334,651 shares during the last quarter. American Century Companies Inc. increased its position in shares of Occidental Petroleum by 600.4% in 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 last quarter. First Trust Advisors LP increased its position in shares of Occidental Petroleum by 87.9% in 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 last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Occidental Petroleum by 22.2% in 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 last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $66.04 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. The firm has a market cap of $58.54 billion, a PE ratio of 16.89 and a beta of 1.64. The business has a 50 day moving average price of $63.21 and a 200-day moving average price of $61.13. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The company had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 earnings per share. Equities research analysts predict that Occidental Petroleum Co. will post 3.74 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were issued 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%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stephens restated an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research report on Thursday, February 15th. Raymond James cut their target price on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Mizuho upped their target price on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, Barclays began coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price for the company. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $72.06.

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.