Occidental Petroleum Co. (NYSE:OXY) Stock Holdings Lifted by SignalPoint Asset Management LLC

SignalPoint Asset Management LLC raised its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 15.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,850 shares of the oil and gas producer’s stock after purchasing an additional 1,300 shares during the period. SignalPoint Asset Management LLC’s holdings in Occidental Petroleum were worth $640,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. bought a new position in Occidental Petroleum during the third quarter valued at about $335,000. Pearl River Capital LLC bought a new position in shares of Occidental Petroleum in the 3rd quarter valued at approximately $284,000. Rathbones Group PLC bought a new stake in Occidental Petroleum during the third quarter worth approximately $918,000. V Square Quantitative Management LLC acquired a new position in Occidental Petroleum during the third quarter valued at approximately $208,000. Finally, Mariner LLC raised its position in shares of Occidental Petroleum by 7.1% in the third quarter. Mariner LLC now owns 95,708 shares of the oil and gas producer’s stock valued at $6,210,000 after purchasing an additional 6,368 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 2.4 %

OXY traded down $1.52 during mid-day trading on Friday, hitting $60.92. The stock had a trading volume of 21,295,011 shares, compared to its average volume of 6,402,490. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The stock’s fifty day simple moving average is $63.32 and its 200-day simple moving average is $61.48. The firm has a market capitalization of $54.01 billion, a price-to-earnings ratio of 16.64 and a beta of 1.59.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same period last year, the company posted $1.09 EPS. The business’s quarterly revenue was down 17.2% on a year-over-year basis. As a group, research analysts forecast that Occidental Petroleum Co. will post 3.87 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.44%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Barclays assumed coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price target for the company. Morgan Stanley boosted their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Finally, HSBC started coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $71.56.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 334,461 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $59.75 per share, with a total value of $19,984,044.75. Following the completion of the transaction, the insider now owns 255,281,524 shares in the company, valued at $15,253,071,059. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 4,656,747 shares of company stock valued at $278,664,028 over the last 90 days. 0.31% of the stock is owned by corporate insiders.

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.