24,818 Shares in Occidental Petroleum Co. (NYSE:OXY) Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC acquired a new position in Occidental Petroleum Co. (NYSE:OXY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,818 shares of the oil and gas producer’s stock, valued at approximately $1,563,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Hahn Capital Management LLC lifted its holdings in Occidental Petroleum by 20.4% during the second quarter. Hahn Capital Management LLC now owns 108,293 shares of the oil and gas producer’s stock worth $6,826,000 after buying an additional 18,365 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Occidental Petroleum during the second quarter worth $53,000. Illinois Municipal Retirement Fund lifted its holdings in Occidental Petroleum by 16.1% during the second quarter. Illinois Municipal Retirement Fund now owns 169,459 shares of the oil and gas producer’s stock worth $10,681,000 after buying an additional 23,456 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Occidental Petroleum by 9,379.4% during the second quarter. Los Angeles Capital Management LLC now owns 424,962 shares of the oil and gas producer’s stock worth $26,785,000 after buying an additional 420,479 shares during the period. Finally, Patron Partners LLC lifted its holdings in Occidental Petroleum by 61.3% during the second quarter. Patron Partners LLC now owns 5,911 shares of the oil and gas producer’s stock worth $373,000 after buying an additional 2,247 shares during the period. Institutional investors own 88.70% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc purchased 334,461 shares of the business’s stock in a transaction on Monday, June 17th. The shares were bought at an average cost of $59.75 per share, with a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Berkshire Hathaway Inc bought 334,461 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were acquired at an average price of $59.75 per share, for a total transaction of $19,984,044.75. Following the completion of the transaction, the insider now directly owns 255,281,524 shares in the company, valued at $15,253,071,059. The disclosure for this purchase can be found here. 0.31% of the stock is owned by insiders.

Occidental Petroleum Price Performance

NYSE OXY opened at $51.05 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The stock’s fifty day moving average price is $57.85 and its 200 day moving average price is $61.57. Occidental Petroleum Co. has a 1 year low of $49.90 and a 1 year high of $71.18. The company has a market cap of $46.23 billion, a price-to-earnings ratio of 13.95 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.71 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OXY. Wells Fargo & Company lowered their target price on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Wolfe Research initiated coverage on Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective for the company. Stephens reiterated an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a report on Thursday, August 8th. Susquehanna decreased their price objective on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, UBS Group increased their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $72.27.

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.