Occidental Petroleum Corporation $OXY Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 18.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 155,733 shares of the oil and gas producer’s stock after selling 34,253 shares during the period. Corebridge Financial Inc.’s holdings in Occidental Petroleum were worth $7,687,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OXY. Vanguard Group Inc. boosted its holdings in shares of 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 worth $3,960,202,000 after purchasing an additional 12,107,285 shares during the last quarter. Berkshire Hathaway Inc boosted its position in Occidental Petroleum by 3.5% during the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer’s stock valued at $13,053,055,000 after purchasing an additional 8,896,890 shares during the period. Nuveen LLC acquired a new stake in Occidental Petroleum in the 1st quarter valued at approximately $99,853,000. Worldquant Millennium Advisors LLC raised its holdings in Occidental Petroleum by 1,075.3% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer’s stock worth $95,400,000 after purchasing an additional 1,766,491 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Occidental Petroleum by 9.6% during the first 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 in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

OXY stock opened at $47.53 on Friday. The firm has a market cap of $46.79 billion, a PE ratio of 28.12 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 Corporation has a 12-month low of $34.78 and a 12-month high of $57.57. The business has a 50 day moving average of $44.26 and a 200-day moving average of $44.07.

Occidental Petroleum (NYSE:OXY — Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company’s revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 EPS. As a group, sell-side analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 56.80%.

Analysts Set New Price Targets

Several brokerages recently issued reports on OXY. Melius began coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price objective for the company. Melius Research initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. UBS Group increased their price target on Occidental Petroleum from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Finally, Citigroup raised their price target on Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, May 19th. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $54.65.

Check Out Our Latest Stock Report on OXY

Occidental Petroleum Profile

(Free Report)

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.

Featured Articles

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