Schwartz Investment Counsel Inc. Boosts Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Schwartz Investment Counsel Inc. increased its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 13.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 216,430 shares of the oil and gas producer's stock after acquiring an additional 25,000 shares during the period. Schwartz Investment Counsel Inc.'s holdings in Occidental Petroleum were worth $13,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Investment Research & Advisory Group Inc. raised its holdings in shares of Occidental Petroleum by 75.2% in 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 in the last quarter. LifeSteps Financial Inc. acquired a new stake in shares of Occidental Petroleum during the 1st quarter valued at $34,000. Able Wealth Management LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter worth $38,000. New Covenant Trust Company N.A. acquired a new position in shares of Occidental Petroleum in the 1st quarter worth $44,000. Finally, LRI Investments LLC acquired a new stake in shares of Occidental Petroleum during the first quarter worth $44,000. 88.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business'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 completion of the transaction, the insider now owns 165,681,578 shares of the company's stock, 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 the SEC website. In related news, major shareholder Berkshire Hathaway Inc bought 334,461 shares of the company's stock in a transaction dated Monday, June 17th. The stock was acquired at an average cost of $59.75 per share, with a total value of $19,984,044.75. Following the acquisition, the insider now owns 255,281,524 shares in the company, valued at approximately $15,253,071,059. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The disclosure for this sale can be found here. Insiders bought 4,656,747 shares of company stock worth $278,664,028 over the last ninety days. Company insiders own 0.31% of the company's stock.

Occidental Petroleum Stock Up 2.0 %

NYSE:OXY traded up $1.14 during mid-day trading on Friday, reaching $57.24. The stock had a trading volume of 12,116,798 shares, compared to its average volume of 8,275,702. 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 has a market cap of $50.75 billion, a P/E ratio of 15.64 and a beta of 1.61. The business's 50 day moving average is $60.22 and its 200 day moving average is $62.10. Occidental Petroleum Co. has a fifty-two week low of $55.04 and a fifty-two week high of $71.18.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the company posted $0.68 earnings per share. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Occidental Petroleum Co. will post 3.7 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum's dividend payout ratio is 24.04%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OXY. Stephens reissued an "overweight" rating and issued a $76.00 price target on shares of Occidental Petroleum in a research note on Thursday, August 8th. Truist Financial cut their price target on shares of Occidental Petroleum from $67.00 to $65.00 and set a "hold" rating on the stock in a report on Monday, August 12th. Citigroup reduced their price target on shares of Occidental Petroleum from $69.00 to $65.00 and set a "neutral" rating for the company in a research report on Friday, May 24th. Wolfe Research started coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They set an "outperform" rating and a $81.00 price objective on the stock. Finally, UBS Group raised their target price on Occidental Petroleum from $69.00 to $70.00 and gave the stock a "neutral" rating in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus target price of $71.69.

About Occidental Petroleum

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.