Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN increased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 52.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,991 shares of the oil and gas producer’s stock after buying an additional 2,051 shares during the period. OLD National Bancorp IN’s holdings in Occidental Petroleum were worth $358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in OXY. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum in the 3rd quarter worth about $26,000. Orion Capital Management LLC purchased a new stake in shares of Occidental Petroleum in the 3rd quarter worth about $27,000. TLW Wealth Management LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter worth about $28,000. Grove Bank & Trust boosted its position 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 worth $31,000 after buying an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter worth about $34,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Down 0.1 %

Shares of OXY stock opened at $67.33 on Thursday. 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. The firm’s 50-day simple moving average is $63.97 and its 200-day simple moving average is $61.29.

Occidental Petroleum (NYSE:OXY) last posted its earnings results 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 firm had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the prior year, the company earned $1.61 EPS. The company’s revenue was down 9.6% on a year-over-year basis. As a group, equities analysts forecast that Occidental Petroleum Co. will post 3.85 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were issued a $0.22 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 7th. This represents a $0.88 annualized dividend and a yield of 1.31%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. 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 upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $63.00 to $90.00 in a report on Thursday, April 11th. Barclays initiated coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price on the stock. Finally, StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $71.94.

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.