Stevens Capital Management LP Takes $683,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Stevens Capital Management LP purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,817 shares of the oil and gas producer's stock, valued at approximately $683,000.

Several other large investors have also added to or reduced their stakes in the business. Prospera Financial Services Inc lifted its holdings in shares of Occidental Petroleum by 22.5% in the third quarter. Prospera Financial Services Inc now owns 9,160 shares of the oil and gas producer's stock valued at $472,000 after purchasing an additional 1,685 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Occidental Petroleum during the 3rd quarter valued at $685,000. Commerce Bank boosted its holdings in Occidental Petroleum by 4.1% during the 3rd quarter. Commerce Bank now owns 30,246 shares of the oil and gas producer's stock worth $1,559,000 after acquiring an additional 1,181 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Occidental Petroleum during the 3rd quarter worth $874,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Occidental Petroleum by 10.9% in the third quarter. Advisors Asset Management Inc. now owns 42,508 shares of the oil and gas producer's stock valued at $2,191,000 after purchasing an additional 4,174 shares during the last quarter. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock traded up $0.82 on Tuesday, reaching $48.74. The stock had a trading volume of 4,960,227 shares, compared to its average volume of 11,281,741. The business's 50 day moving average is $48.51 and its two-hundred day moving average is $49.93. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.18. The company has a market cap of $45.74 billion, a P/E ratio of 19.97 and a beta of 1.51.

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Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, research analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.97%. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. Occidental Petroleum's payout ratio is presently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the firm's stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the purchase, the insider now owns 264,941,431 shares of the company's stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OXY. The Goldman Sachs Group downgraded shares of Occidental Petroleum from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. JPMorgan Chase & Co. reduced their target price on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Citigroup dropped their price target on Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Mizuho reduced their price objective on Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Finally, Raymond James cut Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their target price for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Occidental Petroleum currently has an average rating of "Hold" and a consensus target price of $60.45.

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.