Fairholme Capital Management LLC Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

Fairholme Capital Management LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 9,000 shares of the oil and gas producer's stock, valued at approximately $445,000. Occidental Petroleum comprises approximately 0.0% of Fairholme Capital Management LLC's investment portfolio, making the stock its 8th largest position.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock worth $3,365,992,000 after acquiring an additional 10,434,098 shares during the last quarter. Berkshire Hathaway Inc grew its stake in shares of Occidental Petroleum by 3.5% in the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock valued at $13,053,055,000 after buying an additional 8,896,890 shares in the last quarter. Marshall Wace LLP lifted its stake in Occidental Petroleum by 48.1% during the 4th quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer's stock worth $203,459,000 after acquiring an additional 1,337,728 shares in the last quarter. Invesco Ltd. grew its position 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 valued at $314,133,000 after acquiring an additional 1,278,389 shares in the last quarter. Finally, Scharf Investments LLC lifted its position in shares of Occidental Petroleum by 48.7% during the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer's stock worth $121,600,000 after purchasing an additional 805,525 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on OXY shares. Scotiabank cut shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective for the company. in a report on Friday, April 11th. JPMorgan Chase & Co. dropped their price target 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. UBS Group reduced their price objective on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Roth Capital set a $54.00 target price on Occidental Petroleum in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group lowered Occidental Petroleum from a "neutral" rating to a "sell" rating and reduced their price target for the company from $54.00 to $45.00 in a research report on Friday, January 31st. 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $54.29.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $41.43 on Friday. The stock has a market cap of $38.93 billion, a P/E ratio of 16.98 and a beta of 0.81. Occidental Petroleum Co. has a twelve month low of $34.79 and a twelve month high of $64.76. The stock has a 50 day moving average of $43.05 and a two-hundred day moving average of $47.32. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period in the previous year, the business posted $0.63 earnings per share. Occidental Petroleum's quarterly revenue was up 13.9% on a year-over-year basis. On average, research analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be paid a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.32%. Occidental Petroleum's dividend payout ratio is currently 39.34%.

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.

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