Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 9,379.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 424,962 shares of the oil and gas producer’s stock after buying an additional 420,479 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Occidental Petroleum were worth $26,785,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in OXY. CapWealth Advisors LLC raised its holdings in shares of Occidental Petroleum by 2.7% in the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after acquiring an additional 162 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in Occidental Petroleum by 2.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock valued at $553,000 after purchasing an additional 164 shares in the last quarter. Investment Research & Advisory Group Inc. boosted its stake in shares of Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 167 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of Occidental Petroleum by 2.6% during the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after buying an additional 173 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in shares of Occidental Petroleum by 0.8% during the first quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock valued at $1,359,000 after buying an additional 175 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Stephens reiterated an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday, August 8th. Susquehanna cut their price objective on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a report on Wednesday. Truist Financial decreased their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company dropped their price target on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Finally, Citigroup decreased their price target on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $71.50.

Occidental Petroleum Stock Down 3.2 %

OXY stock opened at $52.03 on Friday. The company has a market capitalization of $46.13 billion, a P/E ratio of 14.22 and a beta of 1.58. The firm has a 50 day simple moving average of $58.96 and a 200-day simple moving average of $61.89. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a twelve month low of $51.79 and a twelve month high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that Occidental Petroleum Co. will post 3.69 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 334,461 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were acquired at an average cost of $59.75 per share, for a total transaction of $19,984,044.75. Following the transaction, the insider now owns 255,281,524 shares of the company’s stock, valued at $15,253,071,059. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $59.75 per share, with a total value of $19,984,044.75. Following the acquisition, the insider now directly owns 255,281,524 shares in the company, valued at $15,253,071,059. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The disclosure for this sale can be found here. Insiders acquired a total of 2,745,563 shares of company stock valued at $164,581,732 in the last quarter. Insiders own 0.31% of the company’s stock.

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.