Occidental Petroleum Corporation $OXY Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,948 shares of the oil and gas producer’s stock after acquiring an additional 16,795 shares during the period. ProShare Advisors LLC’s holdings in Occidental Petroleum were worth $6,618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Carrera Capital Advisors raised its position in Occidental Petroleum by 0.5% during the fourth quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock worth $1,831,000 after acquiring an additional 227 shares during the last quarter. Apella Capital LLC raised its position in Occidental Petroleum by 3.4% during the fourth quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer’s stock worth $289,000 after acquiring an additional 233 shares during the last quarter. Jamison Private Wealth Management Inc. raised its position in Occidental Petroleum by 1.8% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 13,934 shares of the oil and gas producer’s stock worth $573,000 after acquiring an additional 249 shares during the last quarter. Woodward Diversified Capital LLC raised its position in Occidental Petroleum by 4.2% during the fourth quarter. Woodward Diversified Capital LLC now owns 6,652 shares of the oil and gas producer’s stock worth $274,000 after acquiring an additional 270 shares during the last quarter. Finally, Independent Advisor Alliance raised its position in shares of Occidental Petroleum by 1.1% in the fourth quarter. Independent Advisor Alliance now owns 26,092 shares of the oil and gas producer’s stock valued at $1,073,000 after buying an additional 276 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $58.82 on Friday. Occidental Petroleum Corporation has a one year low of $38.80 and a one year 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 50 day moving average price of $58.94 and a 200 day moving average price of $49.37. The firm has a market capitalization of $58.50 billion, a price-to-earnings ratio of 14.82 and a beta of 0.17.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the prior year, the business posted $0.14 earnings per share. Occidental Petroleum’s revenue for the quarter was down 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Occidental Petroleum Corporation will post 5.14 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, June 10th. Occidental Petroleum’s payout ratio is currently 26.20%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Argus raised shares of Occidental Petroleum to a “hold” rating in a research report on Friday, February 27th. HSBC boosted their price objective on shares of Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Barclays boosted their price objective on shares of Occidental Petroleum from $55.00 to $59.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. Bank of America boosted their price objective on shares of Occidental Petroleum from $44.00 to $45.00 in a research report on Tuesday, January 27th. Finally, UBS Group cut their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.91.

About Occidental Petroleum

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.