Addison Advisors LLC Raises Stake in Occidental Petroleum Co. (NYSE:OXY)

Addison Advisors LLC raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 9.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,158 shares of the oil and gas producer’s stock after purchasing an additional 349 shares during the quarter. Addison Advisors LLC’s holdings in Occidental Petroleum were worth $248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its position in Occidental Petroleum by 8.6% in the third quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock valued at $10,139,000 after purchasing an additional 12,349 shares during the last quarter. SeaCrest Wealth Management LLC lifted its position in Occidental Petroleum by 8.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock valued at $343,000 after purchasing an additional 474 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Occidental Petroleum in the third quarter valued at approximately $29,665,000. Cullen Investment Group LTD. bought a new stake in Occidental Petroleum in the fourth quarter valued at approximately $1,006,000. Finally, Koshinski Asset Management Inc. lifted its position in Occidental Petroleum by 53.9% in the fourth quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock valued at $2,877,000 after purchasing an additional 16,871 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

NYSE:OXY traded down $0.10 on Friday, hitting $67.78. The stock had a trading volume of 5,426,855 shares, compared to its average volume of 7,925,358. The business’s 50-day simple moving average is $64.27 and its two-hundred day simple moving average is $61.37. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. Occidental Petroleum Co. has a 52-week low of $55.12 and a 52-week high of $71.18. The stock has a market cap of $60.08 billion, a price-to-earnings ratio of 17.34 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 (EPS) for the quarter, meeting the consensus estimate of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the company earned $1.61 EPS. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, research analysts predict that Occidental Petroleum Co. will post 3.85 earnings per share 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. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a yield of 1.30%. Occidental Petroleum’s payout ratio is currently 22.51%.

Analysts Set New Price Targets

OXY has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Stephens restated an “overweight” rating and set a $74.00 target price on shares of Occidental Petroleum in a report on Thursday, February 15th. HSBC initiated coverage on Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 target price for the company. Wells Fargo & Company upped their target price on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Finally, Scotiabank upgraded 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. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.