Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC lifted its position in Occidental Petroleum Co. (NYSE:OXY) by 26.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,193 shares of the oil and gas producer’s stock after acquiring an additional 250 shares during the period. Venturi Wealth Management LLC’s holdings in Occidental Petroleum were worth $71,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in OXY. Ironwood Wealth Management LLC. acquired a new stake in shares of Occidental Petroleum in the first quarter worth approximately $334,000. Cibc World Market Inc. boosted its stake in shares of Occidental Petroleum by 47.2% in the first quarter. Cibc World Market Inc. now owns 55,697 shares of the oil and gas producer’s stock worth $3,160,000 after acquiring an additional 17,859 shares during the last quarter. Prudential PLC acquired a new stake in shares of Occidental Petroleum in the first quarter worth approximately $1,124,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Occidental Petroleum in the first quarter worth approximately $313,000. Finally, Candriam Luxembourg S.C.A. boosted its stake in shares of Occidental Petroleum by 12.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 54,540 shares of the oil and gas producer’s stock worth $3,094,000 after acquiring an additional 6,018 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OXY has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Occidental Petroleum from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 16th. Stephens reiterated an “overweight” rating and set a $74.00 price objective on shares of Occidental Petroleum in a research report on Thursday, February 15th. Raymond James reduced their price objective on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. reduced their price objective 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 analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.20.

Occidental Petroleum Price Performance

OXY stock opened at $67.63 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $59.95 billion, a PE ratio of 17.30 and a beta of 1.64. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $68.18. The business’s fifty day moving average price is $60.95 and its 200 day moving average price is $60.83.

Occidental Petroleum (NYSE:OXY) last posted 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. The firm had revenue of $7.53 billion for 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 company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 EPS. On average, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.55 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 8th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.30%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, March 7th. Occidental Petroleum’s payout ratio is presently 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.