Simplicity Solutions LLC Acquires 861 Shares of Occidental Petroleum Co. (NYSE:OXY)

Simplicity Solutions LLC boosted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,151 shares of the oil and gas producer’s stock after purchasing an additional 861 shares during the quarter. Simplicity Solutions 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 also recently added to or reduced their stakes in OXY. Oppenheimer & Co. Inc. increased its stake in Occidental Petroleum by 8.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock worth $10,139,000 after acquiring an additional 12,349 shares during the last quarter. SeaCrest Wealth Management LLC increased its stake in Occidental Petroleum by 8.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock worth $343,000 after acquiring an additional 474 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Occidental Petroleum in the 3rd quarter worth approximately $29,665,000. Koshinski Asset Management Inc. increased its stake in Occidental Petroleum by 53.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock worth $2,877,000 after acquiring an additional 16,871 shares during the last quarter. Finally, Calamos Wealth Management LLC bought a new stake in Occidental Petroleum in the 3rd quarter worth approximately $5,758,000. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stephens reaffirmed an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research note on Thursday, February 15th. Barclays started coverage on Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price for the company. Truist Financial lifted their target price on Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, April 5th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, HSBC started coverage on Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 target price for the company. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.06.

Occidental Petroleum Price Performance

OXY opened at $66.04 on Friday. The business has a fifty day moving average of $63.21 and a 200 day moving average of $61.13. Occidental Petroleum Co. has a 52-week low of $55.12 and a 52-week high of $71.18. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The stock has a market cap of $58.54 billion, a P/E ratio of 16.89 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. 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 business earned $1.61 EPS. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.74 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.33%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio is currently 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.