Morningstar Investment Management LLC Purchases 8,835 Shares of Occidental Petroleum Corporation $OXY

Morningstar Investment Management LLC lifted its position in Occidental Petroleum Corporation (NYSE:OXY) by 22.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 47,927 shares of the oil and gas producer’s stock after acquiring an additional 8,835 shares during the period. Morningstar Investment Management LLC’s holdings in Occidental Petroleum were worth $1,971,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management lifted its holdings in Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 305 shares during the last quarter. Binnacle Investments Inc acquired a new stake in Occidental Petroleum during the 3rd quarter valued at $35,000. Garner Asset Management Corp acquired a new stake in Occidental Petroleum during the 4th quarter valued at $37,000. Elyxium Wealth LLC acquired a new stake in Occidental Petroleum during the 4th quarter valued at $39,000. Finally, Byrne Asset Management LLC lifted its holdings in Occidental Petroleum by 96.9% during the 4th quarter. Byrne Asset Management LLC now owns 1,219 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. UBS Group cut their price target on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Jefferies Financial Group raised their price target on Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a report on Monday, April 13th. Raymond James Financial raised their price target on Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Scotiabank lifted their target price on Occidental Petroleum from $46.00 to $57.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Citigroup dropped their target price on Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $62.91.

Occidental Petroleum Stock Up 0.0%

OXY opened at $58.82 on Tuesday. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The company has a market capitalization of $58.50 billion, a P/E ratio of 14.82 and a beta of 0.17. The stock has a fifty day moving average of $58.94 and a 200-day moving average of $49.57.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter last year, the firm earned $0.14 earnings per share. The company’s revenue was down 8.3% on a year-over-year basis. On average, equities analysts expect that Occidental Petroleum Corporation will post 5.33 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be given a $0.26 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 26.20%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.