Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 18.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,123,704 shares of the oil and gas producer's stock after acquiring an additional 10,434,098 shares during the quarter. Vanguard Group Inc. owned about 7.26% of Occidental Petroleum worth $3,365,992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Occidental Petroleum in the third quarter worth $874,000. Cerity Partners LLC raised its stake in Occidental Petroleum by 27.7% in the 3rd quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer's stock worth $3,638,000 after acquiring an additional 15,316 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in Occidental Petroleum by 22.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 21,450 shares of the oil and gas producer's stock worth $1,106,000 after acquiring an additional 3,937 shares during the period. Swedbank AB grew its stake in Occidental Petroleum by 50.7% during the 3rd quarter. Swedbank AB now owns 282,054 shares of the oil and gas producer's stock valued at $14,537,000 after purchasing an additional 94,856 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Occidental Petroleum by 12.9% in the third quarter. Daiwa Securities Group Inc. now owns 81,606 shares of the oil and gas producer's stock valued at $4,206,000 after purchasing an additional 9,320 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

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Occidental Petroleum Price Performance

OXY stock traded down $1.13 during trading on Friday, hitting $48.39. The stock had a trading volume of 4,529,543 shares, compared to its average volume of 11,265,026. The company's 50-day moving average price is $48.34 and its two-hundred day moving average price is $49.91. Occidental Petroleum Co. has a twelve month low of $44.70 and a twelve month high of $71.18. The stock has a market capitalization of $45.47 billion, a P/E ratio of 19.83 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76.

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 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $7.14 billion. As a group, research analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. Occidental Petroleum's dividend payout ratio is currently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the business's stock in a transaction on Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares of the company's stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

OXY has been the topic of a number of recent research reports. The Goldman Sachs Group lowered Occidental Petroleum from a "neutral" rating to a "sell" rating and dropped their target price for the company from $54.00 to $45.00 in a research report on Friday, January 31st. StockNews.com lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Thursday, February 27th. Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the company an "overweight" rating in a research report on Wednesday. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Occidental Petroleum in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Occidental Petroleum currently has an average rating of "Hold" and a consensus price target of $59.82.

Occidental Petroleum Company 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.