Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.0% in the 4th quarter, HoldingsChannel reports. The fund owned 108,232 shares of the oil and gas producer’s stock after buying an additional 5,160 shares during the quarter. Wellington Management Group LLP’s holdings in Occidental Petroleum were worth $5,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Altshuler Shaham Ltd acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $26,000. VSM Wealth Advisory LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $27,000. Whipplewood Advisors LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $27,000. Bernard Wealth Management Corp. acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $32,000. Finally, Atala Financial Inc acquired a new position in shares of Occidental Petroleum during the 4th quarter worth about $40,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on OXY shares. Citigroup upped their target price on Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, May 19th. Barclays upped their target price on Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Raymond James cut Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $81.00 to $64.00 in a research report on Monday, March 10th. UBS Group decreased their target price on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Finally, Mizuho decreased their target price on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $53.14.

Occidental Petroleum Stock Up 3.1%

Occidental Petroleum stock opened at $42.72 on Wednesday. Occidental Petroleum Co. has a twelve month low of $34.79 and a twelve month high of $64.76. The stock has a 50 day moving average of $41.18 and a two-hundred day moving average of $46.22. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $42.04 billion, a price-to-earnings ratio of 17.51 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. The business had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. As a group, research analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 39.02%.

About Occidental Petroleum

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.