Vanguard Group Inc. Acquires 10,434,098 Shares of Occidental Petroleum Co. (NYSE:OXY)

Vanguard Group Inc. raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,123,704 shares of the oil and gas producer’s stock after buying an additional 10,434,098 shares during the quarter. Vanguard Group Inc. owned about 7.26% of Occidental Petroleum worth $3,365,992,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Occidental Petroleum in the 3rd quarter worth $874,000. Cerity Partners LLC grew its position in Occidental Petroleum by 27.7% during the third quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock worth $3,638,000 after buying an additional 15,316 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in Occidental Petroleum by 22.5% during the third quarter. Kingsview Wealth Management LLC now owns 21,450 shares of the oil and gas producer’s stock valued at $1,106,000 after acquiring an additional 3,937 shares during the period. Swedbank AB raised its holdings in Occidental Petroleum by 50.7% in the 3rd quarter. Swedbank AB now owns 282,054 shares of the oil and gas producer’s stock valued at $14,537,000 after acquiring an additional 94,856 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Occidental Petroleum by 12.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 81,606 shares of the oil and gas producer’s stock worth $4,206,000 after acquiring an additional 9,320 shares during the period. 88.70% of the stock is owned by institutional investors.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on OXY. Truist Financial upped their target price on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. UBS Group raised their price objective on shares of Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. decreased their target price on shares of Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Citigroup cut their price target on shares of Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Finally, Raymond James lowered Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $81.00 to $64.00 in a research note on Monday, March 10th. Three equities research 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’s stock. According to MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $60.45.

Occidental Petroleum Stock Up 2.4 %

NYSE OXY opened at $49.05 on Wednesday. The stock has a market capitalization of $46.03 billion, a P/E ratio of 20.10 and a beta of 1.51. Occidental Petroleum Co. has a 52 week low of $44.70 and a 52 week high of $71.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The stock has a fifty day moving average of $48.45 and a 200-day moving average of $49.91.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. The firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. On average, equities research analysts forecast 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. Shareholders of record on Monday, March 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is currently 39.34%.

About Occidental Petroleum

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.