Levin Capital Strategies L.P. Takes Position in Occidental Petroleum Co. (NYSE:OXY)

Levin Capital Strategies L.P. purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, Holdings Channel.com reports. The firm purchased 7,595 shares of the oil and gas producer’s stock, valued at approximately $453,000.

A number of other institutional investors and hedge funds have also made changes to their positions in OXY. Fisher Asset Management LLC grew its stake in Occidental Petroleum by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 600,472 shares of the oil and gas producer’s stock worth $35,854,000 after buying an additional 7,815 shares during the last quarter. Seaview Investment Managers LLC grew its stake in Occidental Petroleum by 19.4% during the 4th quarter. Seaview Investment Managers LLC now owns 5,587 shares of the oil and gas producer’s stock worth $334,000 after buying an additional 908 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in Occidental Petroleum by 19.3% during the 4th quarter. First Trust Direct Indexing L.P. now owns 18,890 shares of the oil and gas producer’s stock worth $1,128,000 after buying an additional 3,057 shares during the last quarter. Triumph Capital Management grew its stake in Occidental Petroleum by 23.1% during the 4th quarter. Triumph Capital Management now owns 6,485 shares of the oil and gas producer’s stock worth $388,000 after buying an additional 1,219 shares during the last quarter. Finally, Savant Capital LLC grew its stake in Occidental Petroleum by 2.0% during the 4th quarter. Savant Capital LLC now owns 14,632 shares of the oil and gas producer’s stock worth $874,000 after buying an additional 280 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OXY has been the subject of a number of research reports. Raymond James lowered their price target on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Susquehanna lifted their price target on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $63.00 to $90.00 in a report on Thursday, April 11th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Truist Financial boosted their price objective on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a report on Friday, April 5th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Price Performance

NYSE:OXY traded down $0.27 during trading hours on Friday, hitting $64.39. 6,758,634 shares of the stock were exchanged, compared to its average volume of 8,499,626. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The firm’s fifty day moving average price is $64.72 and its 200 day moving average price is $61.43. The company has a market cap of $57.08 billion, a P/E ratio of 16.47 and a beta of 1.64. Occidental Petroleum Co. has a 52-week low of $55.12 and a 52-week high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The business’s revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 earnings per share. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 3.81 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.37%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Occidental Petroleum Company Profile

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.