Prime Capital Investment Advisors LLC Raises Stake in Occidental Petroleum Co. (NYSE:OXY)

Prime Capital Investment Advisors LLC boosted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 19.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,740 shares of the oil and gas producer’s stock after acquiring an additional 3,183 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Occidental Petroleum were worth $1,179,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OXY. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Occidental Petroleum during the 3rd quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in Occidental Petroleum during the 3rd quarter valued at about $27,000. TLW Wealth Management LLC bought a new stake in Occidental Petroleum during the 4th quarter valued at about $28,000. Resurgent Financial Advisors LLC bought a new stake in Occidental Petroleum during the 4th quarter valued at about $35,000. Finally, BKM Wealth Management LLC bought a new stake in Occidental Petroleum during the 4th quarter valued at about $35,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $68.74 on Tuesday. 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 Co. has a 1-year low of $55.12 and a 1-year high of $69.58. The company has a market capitalization of $60.94 billion, a P/E ratio of 17.58 and a beta of 1.64. The firm’s 50 day simple moving average is $61.57 and its two-hundred day simple moving average is $60.88.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. Research analysts expect that Occidental Petroleum Co. will post 3.72 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 8th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s payout ratio is 22.51%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OXY shares. Morgan Stanley raised their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Mizuho raised their price objective on shares of Occidental Petroleum from $63.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Raymond James reduced their price target on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Stephens reiterated an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a research note on Thursday, February 15th. Finally, Truist Financial lifted their price target on shares of Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $70.31.

Occidental Petroleum Company 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.