SVB Wealth LLC Raises Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

SVB Wealth LLC raised its position in Occidental Petroleum Co. (NYSE:OXY) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,575 shares of the oil and gas producer’s stock after buying an additional 308 shares during the quarter. SVB Wealth LLC’s holdings in Occidental Petroleum were worth $751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Everhart Financial Group Inc. lifted its stake in Occidental Petroleum by 2.3% in the third quarter. Everhart Financial Group Inc. now owns 7,457 shares of the oil and gas producer’s stock valued at $484,000 after buying an additional 169 shares during the last quarter. PFG Investments LLC raised its stake in shares of Occidental Petroleum by 2.7% during the third quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer’s stock worth $417,000 after purchasing an additional 170 shares during the last quarter. VisionPoint Advisory Group LLC raised its stake in shares of Occidental Petroleum by 1.2% during the third quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock worth $957,000 after purchasing an additional 174 shares during the last quarter. Conning Inc. raised its stake in shares of Occidental Petroleum by 3.6% during the third quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer’s stock worth $334,000 after purchasing an additional 180 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Occidental Petroleum by 1.5% during the first quarter. Lazard Asset Management LLC now owns 11,920 shares of the oil and gas producer’s stock worth $676,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 0.9 %

Shares of NYSE:OXY opened at $66.63 on Friday. 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 Co. has a 52-week low of $55.12 and a 52-week high of $71.18. The stock’s fifty day simple moving average is $63.39 and its 200-day simple moving average is $61.16. The company has a market capitalization of $59.07 billion, a P/E ratio of 17.04 and a beta of 1.64.

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 (EPS) for the quarter, meeting the consensus estimate of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The business had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the business earned $1.61 earnings per share. The business’s revenue was down 9.6% on a year-over-year basis. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.74 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. Stockholders of record on Friday, March 8th were given a $0.22 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

Analysts Set New Price Targets

OXY has been the subject of several analyst reports. HSBC initiated coverage on Occidental Petroleum in a research note on Monday, April 8th. They set a “hold” rating and a $65.00 price target for the company. Mizuho upped their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Barclays assumed coverage on Occidental Petroleum in a report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price objective on the stock. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $63.00 to $90.00 in a report on Thursday, April 11th. Finally, Truist Financial upped their price objective on Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Nine equities 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 stock. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $72.06.

About Occidental Petroleum

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.