Occidental Petroleum Co. (NYSE:OXY) Position Lifted by Cerity Partners LLC

Cerity Partners LLC raised its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 42.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,958 shares of the oil and gas producer’s stock after acquiring an additional 10,387 shares during the quarter. Cerity Partners LLC’s holdings in Occidental Petroleum were worth $2,087,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in OXY. Moneta Group Investment Advisors LLC bought a new position in Occidental Petroleum during the 4th quarter valued at $267,173,000. Bank of New York Mellon Corp lifted its position in shares of Occidental Petroleum by 24.1% in 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 buying an additional 2,334,651 shares during the last quarter. American Century Companies Inc. lifted its position 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 worth $145,520,000 after buying an additional 1,922,656 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Occidental Petroleum by 87.9% in the 1st quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer’s stock worth $185,885,000 after buying an additional 1,532,100 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Occidental Petroleum by 22.2% in the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock worth $357,977,000 after buying an additional 1,088,052 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Mizuho raised their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Morgan Stanley raised their price target 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. Barclays began coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective on the stock. Truist Financial lifted their price objective on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.06.

Occidental Petroleum Stock Up 0.9 %

Occidental Petroleum stock opened at $66.63 on Friday. The stock has a market cap of $59.07 billion, a price-to-earnings ratio of 17.04 and a beta of 1.64. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average price is $63.39 and its two-hundred day moving average price is $61.16. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $7.53 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $1.61 EPS. On average, analysts expect that Occidental Petroleum Co. will post 3.74 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were paid a $0.22 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.32%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s payout ratio is currently 22.51%.

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.