Geode Capital Management LLC Acquires 3,267,269 Shares of Occidental Petroleum Corporation $OXY

Geode Capital Management LLC raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 22.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 18,089,878 shares of the oil and gas producer’s stock after acquiring an additional 3,267,269 shares during the period. Geode Capital Management LLC owned approximately 1.84% of Occidental Petroleum worth $756,796,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Occidental Petroleum by 17.8% during the first quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock valued at $3,960,202,000 after purchasing an additional 12,107,285 shares during the period. H&H International Investment LLC lifted its holdings in shares of Occidental Petroleum by 1.8% during the 1st quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer’s stock valued at $682,456,000 after buying an additional 249,100 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Occidental Petroleum by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock worth $401,162,000 after buying an additional 710,220 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Occidental Petroleum by 1.6% in the 1st quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer’s stock worth $354,180,000 after buying an additional 110,378 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Occidental Petroleum by 4.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer’s stock worth $218,799,000 after acquiring an additional 195,742 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Price Performance

NYSE:OXY opened at $41.97 on Friday. The business’s 50-day simple moving average is $43.80 and its two-hundred day simple moving average is $43.68. Occidental Petroleum Corporation has a 52 week low of $34.78 and a 52 week high of $53.20. The stock has a market cap of $41.32 billion, a PE ratio of 24.84 and a beta of 0.91. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.16. The firm had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The firm’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.00 earnings per share. As a group, analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 70.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Hsbc Global Res raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Wall Street Zen lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Evercore ISI dropped their price objective on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a report on Friday, October 3rd. Roth Capital upped their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Finally, Melius Research assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $51.24.

Occidental Petroleum 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.