Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 16.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 287,564 shares of the oil and gas producer's stock after acquiring an additional 41,326 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Occidental Petroleum were worth $18,125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Berkshire Hathaway Inc boosted its position in shares of Occidental Petroleum by 8.7% in the fourth quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer's stock valued at $14,552,271,000 after acquiring an additional 19,586,612 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Occidental Petroleum by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer's stock valued at $220,910,000 after acquiring an additional 82,360 shares during the period. Epoch Investment Partners Inc. boosted its position in shares of Occidental Petroleum by 52.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer's stock valued at $83,568,000 after acquiring an additional 483,422 shares during the period. National Pension Service lifted its position in Occidental Petroleum by 2.7% in the fourth quarter. National Pension Service now owns 1,342,292 shares of the oil and gas producer's stock worth $80,148,000 after purchasing an additional 34,786 shares during the period. Finally, Clean Energy Transition LLP bought a new position in Occidental Petroleum in the first quarter worth $67,601,000. 88.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Occidental Petroleum 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 transaction, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of the business'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 acquisition, the insider now directly owns 255,281,524 shares of the company's stock, valued at approximately $15,253,071,059. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction dated 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 transaction, the insider now 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. Over the last quarter, insiders have purchased 4,656,747 shares of company stock worth $278,664,028. Insiders own 0.31% of the company's stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY traded down $0.23 during midday trading on Friday, reaching $56.98. The company's stock had a trading volume of 9,613,670 shares, compared to its average volume of 8,303,792. Occidental Petroleum Co. has a fifty-two week low of $55.04 and a fifty-two week high of $71.18. The company has a market capitalization of $50.52 billion, a P/E ratio of 15.57 and a beta of 1.61. 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 business's fifty day simple moving average is $59.88 and its 200-day simple moving average is $62.05.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company's revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. As a group, equities research analysts expect that Occidental Petroleum Co. will post 3.7 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued 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 (DPR) is currently 24.04%.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research reports. Wolfe Research initiated coverage on Occidental Petroleum in a research report on Thursday, July 18th. They issued an "outperform" rating and a $81.00 target price for the company. Mizuho raised their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 8th. Citigroup reduced their target price on Occidental Petroleum from $69.00 to $65.00 and set a "neutral" rating for the company in a research report on Friday, May 24th. Truist Financial reduced their target price on Occidental Petroleum from $67.00 to $65.00 and set a "hold" rating for the company in a research report on Monday, August 12th. Finally, UBS Group increased their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Ten 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. Based on data from MarketBeat, Occidental Petroleum has an average rating of "Hold" and a consensus price target 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.