Heritage Investors Management Corp lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,351 shares of the oil and gas producer’s stock after acquiring an additional 223 shares during the quarter. Heritage Investors Management Corp’s holdings in Occidental Petroleum were worth $288,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Country Trust Bank increased its holdings in Occidental Petroleum by 434.6% in the fourth quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 339 shares during the last quarter. We Are One Seven LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at about $25,000. Pinnacle Bank bought a new stake in Occidental Petroleum in the fourth quarter valued at about $28,000. Heritage Trust Co increased its holdings in Occidental Petroleum by 496.2% in the fourth quarter. Heritage Trust Co now owns 465 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 387 shares during the last quarter. Finally, Sontag Advisory LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at about $32,000. Institutional investors own 84.32% of the company’s stock.

NYSE:OXY opened at $67.28 on Wednesday. Occidental Petroleum Co. has a 1 year low of $56.83 and a 1 year high of $87.67. The company has a quick ratio of 1.17, a current ratio of 1.34 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $51.13 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.31 and a beta of 0.83.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Occidental Petroleum had a return on equity of 18.17% and a net margin of 21.87%. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. The company’s revenue was up 33.8% on a year-over-year basis. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 3.56 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, March 11th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $3.12 annualized dividend and a dividend yield of 4.64%. Occidental Petroleum’s dividend payout ratio is currently 62.28%.

A number of research firms recently commented on OXY. Zacks Investment Research downgraded Occidental Petroleum from a “hold” rating to a “strong sell” rating in a report on Friday, January 11th. Citigroup downgraded Occidental Petroleum from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $72.00 in a report on Tuesday, February 19th. Morgan Stanley set a $72.00 price objective on Occidental Petroleum and gave the company a “buy” rating in a report on Thursday, February 14th. Mizuho reiterated a “buy” rating and issued a $82.00 price objective on shares of Occidental Petroleum in a report on Wednesday, February 13th. Finally, KeyCorp began coverage on Occidental Petroleum in a report on Thursday, December 20th. They issued an “overweight” rating and a $75.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $84.56.

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Occidental Petroleum Profile

Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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