Steinberg Global Asset Management boosted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 44.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,686 shares of the oil and gas producer’s stock after buying an additional 30,150 shares during the period. Steinberg Global Asset Management’s holdings in Occidental Petroleum were worth $6,346,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Shelton Capital Management boosted its stake in shares of Occidental Petroleum by 1.8% in the 4th quarter. Shelton Capital Management now owns 8,646 shares of the oil and gas producer’s stock valued at $531,000 after purchasing an additional 152 shares in the last quarter. Taylor Hoffman Wealth Management boosted its stake in shares of Occidental Petroleum by 2.3% in the 4th quarter. Taylor Hoffman Wealth Management now owns 6,647 shares of the oil and gas producer’s stock valued at $412,000 after purchasing an additional 152 shares in the last quarter. Nachman Norwood & Parrott Inc boosted its stake in shares of Occidental Petroleum by 0.6% in the 1st quarter. Nachman Norwood & Parrott Inc now owns 25,427 shares of the oil and gas producer’s stock valued at $1,683,000 after purchasing an additional 160 shares in the last quarter. CX Institutional boosted its stake in shares of Occidental Petroleum by 1.8% in the 1st quarter. CX Institutional now owns 10,505 shares of the oil and gas producer’s stock valued at $695,000 after purchasing an additional 183 shares in the last quarter. Finally, Sun Life Financial INC boosted its stake in shares of Occidental Petroleum by 1.1% in the 4th quarter. Sun Life Financial INC now owns 17,886 shares of the oil and gas producer’s stock valued at $1,098,000 after purchasing an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

NYSE:OXY traded down $1.97 during mid-day trading on Monday, hitting $63.36. 11,412,997 shares of the company’s stock were exchanged, compared to its average volume of 4,460,123. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.34 and a quick ratio of 1.17. Occidental Petroleum Co. has a fifty-two week low of $56.83 and a fifty-two week high of $87.67. The company has a market cap of $48.86 billion, a PE ratio of 12.65, a P/E/G ratio of 1.30 and a beta of 0.83.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. Occidental Petroleum had a net margin of 21.87% and a return on equity of 18.17%. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the business earned $0.41 EPS. The company’s revenue was up 33.8% compared to the same quarter last year. Equities research analysts expect that Occidental Petroleum Co. will post 3.56 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, March 11th will be issued 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 yield of 4.92%. Occidental Petroleum’s payout ratio is 62.28%.

A number of equities research analysts have recently weighed in on OXY shares. Morgan Stanley set a $72.00 price target on shares of Occidental Petroleum and gave the company a “buy” rating in a research note on Thursday, February 14th. Mizuho reiterated a “buy” rating and set a $82.00 target price on shares of Occidental Petroleum in a research report on Wednesday, February 13th. Capital One Financial downgraded shares of Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. Zacks Investment Research upgraded shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Finally, ValuEngine upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Occidental Petroleum presently has an average rating of “Buy” and a consensus target price of $84.56.

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About Occidental Petroleum

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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