Bourgeon Capital Management LLC Acquires 750 Shares of Occidental Petroleum Co. (NYSE:OXY)

Bourgeon Capital Management LLC boosted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 33.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,025 shares of the oil and gas producer’s stock after buying an additional 750 shares during the quarter. Bourgeon Capital Management LLC’s holdings in Occidental Petroleum were worth $181,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Ironwood Wealth Management LLC. bought a new position in Occidental Petroleum during the 1st quarter worth approximately $334,000. Cibc World Market Inc. increased its stake in shares of Occidental Petroleum by 47.2% in the 1st quarter. Cibc World Market Inc. now owns 55,697 shares of the oil and gas producer’s stock valued at $3,160,000 after acquiring an additional 17,859 shares in the last quarter. Prudential PLC bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at $1,124,000. Sequoia Financial Advisors LLC bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at $313,000. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Occidental Petroleum by 12.4% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 54,540 shares of the oil and gas producer’s stock valued at $3,094,000 after acquiring an additional 6,018 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. HSBC assumed coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. Wells Fargo & Company boosted their price target on shares of Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday. Raymond James dropped their price objective on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Barclays assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price for the company. Finally, StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $72.06.

Occidental Petroleum Stock Performance

NYSE OXY traded down $0.47 during trading hours on Monday, reaching $68.54. 6,087,283 shares of the company were exchanged, compared to its average volume of 8,747,140. Occidental Petroleum Co. has a 1 year low of $55.12 and a 1 year high of $71.18. The business’s 50 day simple moving average is $62.47 and its 200-day simple moving average is $61.03. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $60.76 billion, a P/E ratio of 17.65 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company’s revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the company earned $1.61 earnings per share. On average, equities research analysts expect that Occidental Petroleum Co. will post 3.84 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 8th will be paid a $0.22 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, March 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.28%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

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.