ProShare Advisors LLC Purchases 7,038 Shares of Occidental Petroleum Co. (NYSE:OXY)

ProShare Advisors LLC raised its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,647 shares of the oil and gas producer’s stock after acquiring an additional 7,038 shares during the quarter. ProShare Advisors LLC’s holdings in Occidental Petroleum were worth $6,258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $26,000. Whipplewood Advisors LLC bought a new stake in Occidental Petroleum in the 4th quarter worth about $27,000. VSM Wealth Advisory LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at about $27,000. Atala Financial Inc bought a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $40,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter worth approximately $42,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Down 0.8%

OXY stock opened at $43.02 on Monday. The stock has a 50-day simple moving average of $42.69 and a two-hundred day simple moving average of $46.95. Occidental Petroleum Co. has a twelve month low of $34.79 and a twelve month high of $64.76. The firm has a market capitalization of $42.34 billion, a PE ratio of 17.63 and a beta of 0.81. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 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 $6.80 billion during the quarter, compared to analysts’ expectations of $6.97 billion. During the same quarter in the previous year, the company earned $0.63 earnings per share. Occidental Petroleum’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.23%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 39.02%.

Analyst Ratings Changes

OXY has been the subject of a number of research analyst reports. Piper Sandler decreased their price target on Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Hsbc Global Res upgraded Occidental Petroleum to a “hold” rating in a research note on Wednesday, April 16th. Susquehanna reduced their price target on shares of Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Mizuho lowered their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Finally, TD Cowen downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their target price for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $53.48.

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.