Treasurer of the State of North Carolina increased its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 299,422 shares of the oil and gas producer's stock after purchasing an additional 7,970 shares during the period. Treasurer of the State of North Carolina's holdings in Occidental Petroleum were worth $14,794,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Occidental Petroleum by 18.1% during the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after acquiring an additional 10,434,098 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Occidental Petroleum by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock worth $701,816,000 after purchasing an additional 398,467 shares in the last quarter. Invesco Ltd. increased its holdings in Occidental Petroleum by 25.2% in the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock worth $314,133,000 after acquiring an additional 1,278,389 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Occidental Petroleum by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,236,980 shares of the oil and gas producer's stock valued at $209,349,000 after purchasing an additional 229,210 shares in the last quarter. Finally, Cooke & Bieler LP raised its position in shares of Occidental Petroleum by 14.6% during the 4th quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer's stock valued at $146,184,000 after purchasing an additional 377,952 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on OXY. StockNews.com lowered Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Thursday, February 27th. Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a research report on Thursday, January 23rd. JPMorgan Chase & Co. cut their target price on shares of Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Scotiabank cut Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 target price on the stock. in a report on Friday. Finally, Morgan Stanley set a $58.00 price target on Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Occidental Petroleum has an average rating of "Hold" and a consensus price target of $56.71.
View Our Latest Stock Report on Occidental Petroleum
Insider Buying and Selling at Occidental Petroleum
In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the acquisition, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.31% of the company's stock.
Occidental Petroleum Stock Up 0.6 %
OXY stock traded up $0.23 during trading on Monday, reaching $37.90. 12,646,414 shares of the company traded hands, compared to its average volume of 10,795,798. The company has a market capitalization of $35.62 billion, a price-to-earnings ratio of 15.53 and a beta of 1.02. The business has a 50 day simple moving average of $46.46 and a 200 day simple moving average of $49.04. Occidental Petroleum Co. has a 12 month low of $34.79 and a 12 month high of $69.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.
Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. On average, equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.
Occidental Petroleum Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.53%. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's payout ratio is currently 39.34%.
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.
Read More
Before you consider Occidental Petroleum, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Occidental Petroleum wasn't on the list.
While Occidental Petroleum currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
