Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by abrdn plc

abrdn plc raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 69.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 286,532 shares of the oil and gas producer’s stock after acquiring an additional 117,317 shares during the quarter. abrdn plc’s holdings in Occidental Petroleum were worth $17,109,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Occidental Petroleum in the 3rd quarter worth about $26,000. Orion Capital Management LLC acquired a new position in Occidental Petroleum during the third quarter worth approximately $27,000. TLW Wealth Management LLC purchased a new position in Occidental Petroleum during the fourth quarter worth approximately $28,000. Grove Bank & Trust boosted its holdings 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 purchasing an additional 240 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth $35,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

OXY has been the subject of several research analyst reports. Mizuho upped their price target on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Raymond James reduced their target price on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Barclays started coverage on Occidental Petroleum in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price for the company. Nine research 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $67.33 on Thursday. The firm has a fifty day moving average of $63.97 and a two-hundred day moving average of $61.29. The firm has a market cap of $59.69 billion, a P/E ratio of 17.22 and a beta of 1.64. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the firm earned $1.61 earnings per share. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Occidental Petroleum Co. will post 3.85 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase 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%.

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.