Morningstar Investment Management LLC Has $1.97 Million Stock Holdings in Occidental Petroleum Corporation $OXY

Morningstar Investment Management LLC lifted its position in Occidental Petroleum Corporation (NYSE:OXY) by 22.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Carrera Capital Advisors raised its position in shares of Occidental Petroleum by 0.5% in the 4th quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock valued at $1,831,000 after acquiring an additional 227 shares during the period. Apella Capital LLC raised its position in shares of Occidental Petroleum by 3.4% in the 4th quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer’s stock valued at $289,000 after acquiring an additional 233 shares during the period. Jamison Private Wealth Management Inc. raised its position in shares of Occidental Petroleum by 1.8% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 13,934 shares of the oil and gas producer’s stock valued at $573,000 after acquiring an additional 249 shares during the period. Woodward Diversified Capital LLC raised its position in shares of Occidental Petroleum by 4.2% in the 4th quarter. Woodward Diversified Capital LLC now owns 6,652 shares of the oil and gas producer’s stock valued at $274,000 after acquiring an additional 270 shares during the period. Finally, Independent Advisor Alliance raised its position in shares of Occidental Petroleum by 1.1% in the 4th quarter. Independent Advisor Alliance now owns 26,092 shares of the oil and gas producer’s stock valued at $1,073,000 after acquiring an additional 276 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OXY. Barclays increased their price target 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. Wells Fargo & Company increased their price target on shares of Occidental Petroleum from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Zacks Research upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. Morgan Stanley increased their target price on Occidental Petroleum from $73.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Finally, Piper Sandler raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $54.00 to $66.00 in a research note on Thursday, March 12th. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.91.

Occidental Petroleum Price Performance

NYSE OXY opened at $58.82 on Tuesday. The business has a 50 day simple moving average of $58.94 and a 200 day simple moving average of $49.57. Occidental Petroleum Corporation has a 52-week low of $38.80 and a 52-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 stock has a market cap of $58.50 billion, a price-to-earnings ratio of 14.82 and a beta of 0.17.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) 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 business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the prior year, the business earned $0.14 EPS. Occidental Petroleum’s revenue for the quarter was down 8.3% compared to the same quarter last year. Analysts anticipate that Occidental Petroleum Corporation will post 5.33 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 26.20%.

Occidental Petroleum 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.