AQR Capital Management LLC Boosts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

AQR Capital Management LLC raised its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 262.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,912 shares of the oil and gas producer's stock after purchasing an additional 205,648 shares during the quarter. AQR Capital Management LLC's holdings in Occidental Petroleum were worth $13,937,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth $27,000. Whipplewood Advisors LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $40,000. Finally, Millstone Evans Group LLC purchased a new stake in Occidental Petroleum during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average cost 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by insiders.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $38.81 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The firm has a market capitalization of $36.47 billion, a price-to-earnings ratio of 15.91 and a beta of 1.02. Occidental Petroleum Co. has a one year low of $34.79 and a one year high of $65.78. The company has a 50 day moving average price of $43.53 and a 200 day moving average price of $47.50.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share 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 business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Sell-side analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.34%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Stephens reduced their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Piper Sandler lowered their target price on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a research note on Wednesday, April 16th. UBS Group lowered their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, Raymond James cut shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their target price for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $54.19.

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.

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