Bleakley Financial Group LLC Has $546,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Bleakley Financial Group LLC raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,151 shares of the oil and gas producer’s stock after purchasing an additional 861 shares during the period. Bleakley Financial Group LLC’s holdings in Occidental Petroleum were worth $546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OXY. Bank of New York Mellon Corp grew its stake in shares of Occidental Petroleum by 24.1% in the third quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock valued at $779,983,000 after acquiring an additional 2,334,651 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Occidental Petroleum by 22.2% in the fourth quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after acquiring an additional 1,088,052 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Occidental Petroleum by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,035,799 shares of the oil and gas producer’s stock valued at $285,732,000 after acquiring an additional 118,928 shares in the last quarter. Invesco Ltd. grew its stake in shares of Occidental Petroleum by 2.8% in the third quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer’s stock valued at $302,697,000 after acquiring an additional 125,927 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at about $267,173,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $69.01 on Friday. The firm has a market capitalization of $61.18 billion, a PE ratio of 17.65 and a beta of 1.64. The firm has a fifty day simple moving average of $62.47 and a two-hundred day simple moving average of $61.06. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. Occidental Petroleum’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.61 EPS. Analysts forecast that Occidental Petroleum Co. will post 3.84 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 8th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.28%. This is an increase 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 currently 22.51%.

Analyst Ratings Changes

Several equities analysts recently commented 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 target on the stock. Truist Financial increased their price objective on shares of Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Mizuho increased their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday. Raymond James reduced their price objective on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company increased their target price on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $72.06.

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.