Wellington Management Group LLP Acquires 5,160 Shares of Occidental Petroleum Co. (NYSE:OXY)

Wellington Management Group LLP lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 108,232 shares of the oil and gas producer’s stock after purchasing an additional 5,160 shares during the period. Wellington Management Group LLP’s holdings in Occidental Petroleum were worth $5,348,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in OXY. Inkwell Capital LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $860,000. Cove Street Capital LLC raised its holdings in Occidental Petroleum by 55.8% during the 4th quarter. Cove Street Capital LLC now owns 20,969 shares of the oil and gas producer’s stock valued at $1,036,000 after buying an additional 7,509 shares during the last quarter. IPG Investment Advisors LLC bought a new stake in Occidental Petroleum in the 4th quarter worth $2,821,000. Life Planning Partners Inc purchased a new position in shares of Occidental Petroleum in the fourth quarter valued at about $1,485,000. Finally, Cornercap Investment Counsel Inc. raised its stake in shares of Occidental Petroleum by 121.6% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 31,886 shares of the oil and gas producer’s stock valued at $1,575,000 after acquiring an additional 17,496 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Down 9.6 %

NYSE:OXY opened at $36.39 on Friday. The firm has a 50-day simple moving average of $46.66 and a two-hundred day simple moving average of $49.14. The firm has a market cap of $34.19 billion, a P/E ratio of 14.91 and a beta of 1.02. Occidental Petroleum Co. has a fifty-two week low of $34.79 and a fifty-two 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.

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 analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $7.14 billion. Analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.64%. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the business’s stock in a transaction on Friday, February 7th. The stock was acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the transaction, the insider now owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup reduced 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. JPMorgan Chase & Co. dropped their price target on Occidental Petroleum from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Stephens reissued an “overweight” rating and set a $71.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 19th. Raymond James cut shares of Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Finally, The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their price target for the company from $54.00 to $45.00 in a research report on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $57.90.

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.