Dimensional Fund Advisors LP reduced its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,918,667 shares of the oil and gas producer’s stock after selling 42,767 shares during the period. Dimensional Fund Advisors LP owned about 0.85% of Occidental Petroleum worth $137,153,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of OXY. Inscription Capital LLC raised its position in Occidental Petroleum by 3.3% in the fourth quarter. Inscription Capital LLC now owns 15,500 shares of the oil and gas producer’s stock worth $268,000 after purchasing an additional 500 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of Occidental Petroleum by 3.1% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 16,480 shares of the oil and gas producer’s stock valued at $285,000 after purchasing an additional 502 shares during the period. Grace Capital raised its holdings in shares of Occidental Petroleum by 58.5% in the 4th quarter. Grace Capital now owns 1,585 shares of the oil and gas producer’s stock worth $166,000 after buying an additional 585 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Occidental Petroleum by 0.3% during the 4th quarter. ProShare Advisors LLC now owns 203,350 shares of the oil and gas producer’s stock worth $3,520,000 after buying an additional 663 shares during the period. Finally, GWM Advisors LLC lifted its position in shares of Occidental Petroleum by 6.0% during the 4th quarter. GWM Advisors LLC now owns 13,018 shares of the oil and gas producer’s stock worth $225,000 after buying an additional 740 shares during the period. 66.64% of the stock is currently owned by institutional investors and hedge funds.
OXY has been the subject of several recent analyst reports. Truist increased their price objective on Occidental Petroleum from $11.00 to $25.00 in a research note on Thursday, January 21st. Wells Fargo & Company upgraded shares of Occidental Petroleum from an “underweight” rating to an “equal weight” rating and set a $20.00 target price for the company in a research report on Tuesday, December 15th. Mizuho upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $26.00 in a research report on Tuesday, January 12th. Piper Sandler raised their price objective on shares of Occidental Petroleum from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, April 1st. Finally, Bank of America lifted their target price on shares of Occidental Petroleum from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, February 8th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $22.86.
In other news, major shareholder Carl C. Icahn sold 3,500,000 shares of the firm’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $25.60, for a total value of $89,600,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Carl C. Icahn sold 2,600,000 shares of Occidental Petroleum stock in a transaction on Wednesday, March 31st. The stock was sold at an average price of $26.88, for a total value of $69,888,000.00. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.
Shares of OXY opened at $25.30 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 3.56. Occidental Petroleum Co. has a 12-month low of $8.52 and a 12-month high of $32.52. The firm has a market capitalization of $23.62 billion, a PE ratio of -1.47 and a beta of 2.35. The stock’s fifty day simple moving average is $27.80 and its 200-day simple moving average is $18.96.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Sunday, February 21st. The oil and gas producer reported ($0.78) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.19). Occidental Petroleum had a negative return on equity of 15.55% and a negative net margin of 76.17%. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same quarter in the previous year, the business earned ($0.30) earnings per share. Analysts anticipate that Occidental Petroleum Co. will post -3.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 10th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Tuesday, March 9th. Occidental Petroleum’s dividend payout ratio is 2.76%.
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, Africa, and Latin America. The company operates through three segments: Oil and Gas, Chemical, and Marketing and Midstream.
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