Nachman Norwood & Parrott Inc Buys 160 Shares of Occidental Petroleum Co. (OXY)

Nachman Norwood & Parrott Inc raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,427 shares of the oil and gas producer’s stock after purchasing an additional 160 shares during the quarter. Nachman Norwood & Parrott Inc’s holdings in Occidental Petroleum were worth $1,683,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OXY. Buckley Wealth Management LLC lifted its holdings in Occidental Petroleum by 9.3% during the first quarter. Buckley Wealth Management LLC now owns 17,936 shares of the oil and gas producer’s stock valued at $1,187,000 after purchasing an additional 1,520 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in Occidental Petroleum by 9.0% during the first quarter. Capital Investment Advisors LLC now owns 30,967 shares of the oil and gas producer’s stock valued at $2,050,000 after purchasing an additional 2,558 shares during the last quarter. NuWave Investment Management LLC increased its position in shares of Occidental Petroleum by 170.4% during the first quarter. NuWave Investment Management LLC now owns 3,964 shares of the oil and gas producer’s stock valued at $262,000 after buying an additional 2,498 shares during the period. Moody National Bank Trust Division increased its position in shares of Occidental Petroleum by 20.9% during the first quarter. Moody National Bank Trust Division now owns 1,573 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 272 shares during the period. Finally, Ferguson Wellman Capital Management Inc. increased its position in shares of Occidental Petroleum by 4.8% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 708,100 shares of the oil and gas producer’s stock valued at $46,876,000 after buying an additional 32,402 shares during the period. 84.34% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on OXY shares. Zacks Investment Research cut Occidental Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. KeyCorp cut shares of Occidental Petroleum from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, April 24th. Morgan Stanley set a $72.00 price objective on shares of Occidental Petroleum and gave the stock a “buy” rating in a research report on Thursday, February 14th. Mizuho cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $83.00 to $70.00 in a research report on Monday, April 22nd. Finally, Barclays cut shares of Occidental Petroleum from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $77.00 to $70.00 in a research report on Friday, February 15th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $78.97.

Shares of NYSE:OXY traded up $0.60 during trading on Friday, reaching $57.95. 10,714,194 shares of the company traded hands, compared to its average volume of 5,790,033. Occidental Petroleum Co. has a 52-week low of $56.83 and a 52-week high of $87.67. The firm has a market cap of $43.34 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.12 and a beta of 0.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.17 and a current ratio of 1.34.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Occidental Petroleum had a return on equity of 18.17% and a net margin of 21.87%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the firm posted $0.41 earnings per share. The firm’s revenue was up 33.8% on a year-over-year basis. Research analysts predict that Occidental Petroleum Co. will post 3.64 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 11th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend was Friday, March 8th. Occidental Petroleum’s payout ratio is 62.28%.

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Occidental Petroleum Profile

Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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