Cooke & Bieler LP boosted its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 53.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,450,064 shares of the oil and gas producer's stock after acquiring an additional 503,173 shares during the quarter. Cooke & Bieler LP owned about 0.16% of Occidental Petroleum worth $91,398,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Strategy Asset Managers LLC purchased a new stake in Occidental Petroleum during the 2nd quarter worth $798,000. Archer Investment Corp increased its position in shares of Occidental Petroleum by 23.5% during the second quarter. Archer Investment Corp now owns 2,802 shares of the oil and gas producer's stock worth $177,000 after acquiring an additional 534 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Occidental Petroleum by 1.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 57,061 shares of the oil and gas producer's stock worth $3,597,000 after acquiring an additional 816 shares in the last quarter. Little House Capital LLC boosted its holdings in Occidental Petroleum by 10.1% in the second quarter. Little House Capital LLC now owns 11,841 shares of the oil and gas producer's stock valued at $746,000 after purchasing an additional 1,088 shares during the last quarter. Finally, Carret Asset Management LLC increased its holdings in Occidental Petroleum by 6.0% during the 2nd quarter. Carret Asset Management LLC now owns 5,646 shares of the oil and gas producer's stock worth $356,000 after purchasing an additional 320 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.
Occidental Petroleum Price Performance
OXY traded down $0.78 on Wednesday, reaching $54.62. The company had a trading volume of 10,341,058 shares, compared to its average volume of 8,357,255. Occidental Petroleum Co. has a one year low of $54.58 and a one year high of $71.18. The company has a market capitalization of $48.43 billion, a P/E ratio of 15.10 and a beta of 1.61. The company has a fifty day moving average of $59.52 and a 200-day moving average of $62.05. 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 (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.68 earnings per share. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 3.69 earnings per share for the current year.
Occidental Petroleum Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.61%. Occidental Petroleum's dividend payout ratio is currently 24.04%.
Insider Buying and Selling
In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 765,899 shares of the business's stock in a transaction on Wednesday, June 12th. The stock was bought at an average cost of $60.28 per share, with a total value of $46,168,391.72. Following the acquisition, the insider now owns 252,333,913 shares of the company's stock, valued at $15,210,688,275.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Berkshire Hathaway Inc purchased 765,899 shares of the company's stock in a transaction on Wednesday, June 12th. The shares were bought at an average price of $60.28 per share, with a total value of $46,168,391.72. Following the completion of the acquisition, the insider now owns 252,333,913 shares of the company's stock, valued at $15,210,688,275.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, 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 have bought a total of 4,132,407 shares of company stock valued at $247,334,713 over the last three months. Company insiders own 0.31% of the company's stock.
Analysts Set New Price Targets
OXY has been the subject of several research analyst reports. Susquehanna reduced their target price on Occidental Petroleum from $81.00 to $78.00 and set a "positive" rating for the company in a research note on Wednesday. Citigroup decreased their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a "neutral" rating for the company in a report on Friday, May 24th. UBS Group increased their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Mizuho boosted their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company a "neutral" rating in a report on Wednesday, May 8th. Finally, Stephens reiterated an "overweight" rating and issued a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $71.50.
Check Out Our Latest Report on Occidental Petroleum
About Occidental Petroleum
(
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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