Goelzer Investment Management Inc. Has $405,000 Stake in Occidental Petroleum Co. (OXY)

Goelzer Investment Management Inc. lifted its stake in Occidental Petroleum Co. (NYSE:OXY) by 65.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,119 shares of the oil and gas producer’s stock after acquiring an additional 2,429 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Occidental Petroleum were worth $405,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Country Trust Bank raised its stake in Occidental Petroleum by 434.6% during the fourth quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 339 shares in the last quarter. We Are One Seven LLC bought a new position in Occidental Petroleum in the 4th quarter worth approximately $25,000. Pinnacle Bank bought a new position in Occidental Petroleum in the 4th quarter worth approximately $28,000. Heritage Trust Co grew its holdings in Occidental Petroleum by 496.2% in the 4th quarter. Heritage Trust Co now owns 465 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 387 shares in the last quarter. Finally, Sontag Advisory LLC bought a new position in Occidental Petroleum in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 84.17% of the company’s stock.

Shares of NYSE OXY opened at $54.17 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.23 and a quick ratio of 1.17. The firm has a market cap of $41.11 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 2.87 and a beta of 0.76. Occidental Petroleum Co. has a 1 year low of $53.51 and a 1 year high of $87.67.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. Equities research analysts forecast that Occidental Petroleum Co. will post 3.92 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s payout ratio is currently 62.28%.

A number of brokerages recently issued reports on OXY. Wolfe Research lowered Occidental Petroleum from an “outperform” rating to a “peer perform” rating and decreased their price objective for the stock from $85.00 to $65.00 in a report on Monday. Morgan Stanley set a $69.00 price objective on Occidental Petroleum and gave the stock a “buy” rating in a report on Wednesday, May 8th. Royal Bank of Canada increased their price objective on Occidental Petroleum to $76.00 in a report on Tuesday, May 7th. ValuEngine lowered Occidental Petroleum from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 30th. Finally, Jefferies Financial Group lowered Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $74.00 to $66.00 in a report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $77.66.

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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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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

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