Occidental Petroleum Co. (NYSE:OXY) Stake Raised by Mackenzie Financial Corp

Mackenzie Financial Corp increased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,615 shares of the oil and gas producer’s stock after purchasing an additional 1,964 shares during the period. Mackenzie Financial Corp’s holdings in Occidental Petroleum were worth $2,007,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in 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 worth $779,983,000 after purchasing an additional 2,334,651 shares in the last quarter. Pacer Advisors Inc. boosted its stake 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 during the period. Invesco Ltd. boosted its stake 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 during the period. ANTIPODES PARTNERS Ltd lifted its stake in shares of Occidental Petroleum by 51.7% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after purchasing an additional 797,894 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Occidental Petroleum by 600.4% in the 3rd quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock valued at $145,520,000 after purchasing an additional 1,922,656 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $67.39 on Wednesday. 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 company has a market capitalization of $59.74 billion, a price-to-earnings ratio of 17.24 and a beta of 1.64. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18. The company has a 50-day simple moving average of $63.77 and a 200 day simple moving average of $61.25.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the prior year, the company earned $1.61 EPS. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, sell-side analysts predict that Occidental Petroleum Co. will post 3.82 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.31%. 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 equities research analysts recently issued reports on OXY shares. HSBC started coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. Stephens reissued an “overweight” rating and set a $74.00 target price on shares of Occidental Petroleum in a research report on Thursday, February 15th. Raymond James cut their price objective on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Mizuho upped their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley upped their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Nine equities 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. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $71.94.

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.