Occidental Petroleum Co. (NYSE:OXY) is ANTIPODES PARTNERS Ltd's 9th Largest Position

ANTIPODES PARTNERS Ltd reduced its holdings in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 29.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,647,144 shares of the oil and gas producer's stock after selling 672,725 shares during the quarter. Occidental Petroleum comprises 3.8% of ANTIPODES PARTNERS Ltd's investment portfolio, making the stock its 9th biggest position. ANTIPODES PARTNERS Ltd owned about 0.19% of Occidental Petroleum worth $103,819,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Berkshire Hathaway Inc increased its holdings in Occidental Petroleum by 8.7% during the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer's stock worth $14,552,271,000 after acquiring an additional 19,586,612 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Occidental Petroleum by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer's stock worth $220,910,000 after acquiring an additional 82,360 shares during the period. Cooke & Bieler LP increased its holdings in Occidental Petroleum by 53.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer's stock worth $91,398,000 after acquiring an additional 503,173 shares during the period. Epoch Investment Partners Inc. increased its holdings in Occidental Petroleum by 52.8% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer's stock worth $83,568,000 after acquiring an additional 483,422 shares during the period. Finally, National Pension Service increased its holdings in shares of Occidental Petroleum by 2.7% in the 4th quarter. National Pension Service now owns 1,342,292 shares of the oil and gas producer's stock worth $80,148,000 after buying an additional 34,786 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on OXY. 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. Truist Financial decreased 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. Wolfe Research began coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an "outperform" rating and a $81.00 price target on the stock. Susquehanna decreased their price target on shares of Occidental Petroleum from $81.00 to $78.00 and set a "positive" rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company reduced their target price on shares of Occidental Petroleum from $68.00 to $65.00 and set an "equal weight" rating on the stock in a report on Friday, August 9th. Ten investment 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 company's stock. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of "Hold" and an average price target of $71.50.

Occidental Petroleum Trading Down 3.2 %

OXY traded down $1.71 during trading on Friday, hitting $52.03. 17,176,129 shares of the stock traded hands, compared to its average volume of 8,442,243. The firm has a 50-day moving average of $59.18 and a 200 day moving average of $61.94. Occidental Petroleum Co. has a 12-month low of $51.79 and a 12-month high of $71.18. 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 firm has a market capitalization of $47.12 billion, a P/E ratio of 14.46 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm had revenue of $6.88 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same period last year, the company posted $0.68 EPS. The company's quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.69 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. Occidental Petroleum's dividend payout ratio is 24.04%.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the 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 completion of the transaction, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the 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 completion of the transaction, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Berkshire Hathaway Inc purchased 584,550 shares of the firm's stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average price of $60.26 per share, with a total value of $35,224,983.00. Following the completion of the purchase, the insider now owns 251,168,155 shares in the company, valued at $15,135,393,020.30. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 2,745,563 shares of company stock valued at $164,581,732. Company insiders own 0.31% of the company's stock.

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.