Cary Street Partners Financial LLC Has $720,000 Stake in Occidental Petroleum Corporation (NYSE:OXY)

Cary Street Partners Financial LLC raised its stake in Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 338.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,596 shares of the oil and gas producer’s stock after buying an additional 11,266 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Occidental Petroleum were worth $720,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $26,000. Bernard Wealth Management Corp. bought a new position in shares of Occidental Petroleum during the fourth quarter worth about $32,000. Grove Bank & Trust grew its holdings in shares of Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 407 shares in the last quarter. American National Bank & Trust bought a new position in shares of Occidental Petroleum during the first quarter worth about $39,000. Finally, Quarry LP grew its holdings in shares of Occidental Petroleum by 615.2% during the fourth quarter. Quarry LP now owns 987 shares of the oil and gas producer’s stock worth $49,000 after buying an additional 849 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OXY. Wells Fargo & Company decreased their price objective on Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. Susquehanna decreased their price objective on Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. Citigroup increased their price objective on Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Monday, May 19th. Hsbc Global Res upgraded Occidental Petroleum to a “hold” rating in a report on Wednesday, April 16th. Finally, Mizuho decreased their price objective on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $53.71.

Get Our Latest Research Report on OXY

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $44.31 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.79 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $59.11. The stock has a 50 day moving average of $43.94 and a 200-day moving average of $44.37. The company has a market capitalization of $43.62 billion, a P/E ratio of 26.22 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY — Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.03 EPS. As a group, equities research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 56.80%.

Occidental Petroleum Profile

(Free Report)

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.

Featured Stories

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Occidental Petroleum, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Occidental Petroleum wasn’t on the list.

While Occidental Petroleum currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here