28,413 Shares in Occidental Petroleum Corporation $OXY Bought by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 28,413 shares of the oil and gas producer's stock, valued at approximately $1,383,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc acquired a new position in shares of Occidental Petroleum in the second quarter worth about $12,868,205,000. State Street Corp grew its position in shares of Occidental Petroleum by 2.1% in the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer's stock worth $1,635,263,000 after acquiring an additional 828,848 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Occidental Petroleum by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer's stock worth $771,949,000 after acquiring an additional 167,518 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Occidental Petroleum by 84.8% during the second quarter. Bank of New York Mellon Corp now owns 10,643,916 shares of the oil and gas producer's stock valued at $516,975,000 after purchasing an additional 4,882,834 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Occidental Petroleum by 21.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer's stock worth $436,008,000 after acquiring an additional 1,883,721 shares during the period. Institutional investors and hedge funds own 88.70% of the company's stock.

Insider Transactions at Occidental Petroleum

In other news, CEO Richard A. Jackson purchased 4,770 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average price of $52.38 per share, with a total value of $249,852.60. Following the purchase, the chief executive officer owned 444,098 shares in the company, valued at $23,261,853.24. This represents a 1.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on OXY shares. Susquehanna increased their price objective on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, August 11th. Stephens decreased their price target on Occidental Petroleum from $73.00 to $69.00 and set an "overweight" rating for the company in a research note on Tuesday, July 14th. Capital One Financial raised their price target on Occidental Petroleum from $67.00 to $70.00 in a report on Wednesday, May 27th. Wells Fargo & Company lifted their price objective on shares of Occidental Petroleum from $72.00 to $79.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, UBS Group dropped their price target on shares of Occidental Petroleum from $67.00 to $65.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, Occidental Petroleum currently has an average rating of "Hold" and a consensus price target of $64.83.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $59.12 on Monday. The firm's 50 day simple moving average is $55.18 and its 200-day simple moving average is $56.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The company has a market cap of $59.10 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 0.94 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, topping the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The business had revenue of $8.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter last year, the firm posted $0.39 earnings per share. Occidental Petroleum's revenue was up 53.4% compared to the same quarter last year. As a group, equities research analysts predict that Occidental Petroleum Corporation will post 6.09 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.28 per share. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.9%. Occidental Petroleum's dividend payout ratio (DPR) is 16.10%.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental's operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.

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