Vanguard Group Inc. Grows Stock Position in Occidental Petroleum Corporation (NYSE:OXY)

Vanguard Group Inc. boosted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 17.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,230,989 shares of the oil and gas producer’s stock after acquiring an additional 12,107,285 shares during the quarter. Vanguard Group Inc. owned 8.54% of Occidental Petroleum worth $3,960,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in shares of Occidental Petroleum in the fourth quarter worth $26,000. Bernard Wealth Management Corp. purchased a new position in shares of Occidental Petroleum in the fourth quarter valued at about $32,000. Grove Bank & Trust raised its stake in shares of Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 407 shares during the last quarter. American National Bank & Trust purchased a new stake in shares of Occidental Petroleum during the first quarter worth about $39,000. Finally, Quarry LP grew its stake in shares of Occidental Petroleum by 615.2% in the fourth quarter. Quarry LP now owns 987 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 849 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Up 2.4%

Shares of Occidental Petroleum stock opened at $43.57 on Friday. The company has a 50-day simple moving average of $43.86 and a two-hundred day simple moving average of $44.42. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $59.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. The stock has a market capitalization of $42.88 billion, a PE ratio of 25.78 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY — Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The business 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 13.95% and a net margin of 8.79%. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. On average, analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business 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. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. Occidental Petroleum’s payout ratio is currently 39.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Stephens lowered their price target on Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. upped their target price on Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Piper Sandler lifted their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Wells Fargo & Company decreased their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. Finally, Barclays raised their target price on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.71.

Get Our Latest Analysis on Occidental Petroleum

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.

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