Occidental Petroleum Corporation (NYSE:OXY) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lifted its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 18.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 282,561 shares of the oil and gas producer's stock after purchasing an additional 43,388 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Occidental Petroleum were worth $13,947,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Berkshire Hathaway Inc grew its holdings 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 purchasing an additional 8,896,890 shares during the period. Vanguard Group Inc. boosted its stake in Occidental Petroleum by 18.1% during the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock worth $3,365,992,000 after buying an additional 10,434,098 shares during the period. Geode Capital Management LLC boosted its stake in Occidental Petroleum by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock worth $701,816,000 after buying an additional 398,467 shares during the period. Northern Trust Corp boosted its stake in Occidental Petroleum by 7.5% during the fourth quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock worth $349,085,000 after buying an additional 491,797 shares during the period. Finally, Invesco Ltd. boosted its stake in Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock worth $314,133,000 after buying an additional 1,278,389 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Down 1.2%

NYSE:OXY traded down $0.50 during mid-day trading on Friday, hitting $42.66. The stock had a trading volume of 20,685,079 shares, compared to its average volume of 11,717,853. The stock has a 50-day simple moving average of $42.15 and a two-hundred day simple moving average of $45.54. The company has a market capitalization of $41.99 billion, a PE ratio of 17.34 and a beta of 0.87. Occidental Petroleum Corporation has a twelve month low of $34.79 and a twelve month high of $64.76. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The company had revenue of $6.80 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter last year, the company earned $0.63 earnings per share. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities research analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.25%. Occidental Petroleum's payout ratio is currently 39.02%.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Citigroup increased their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Piper Sandler lowered their target price on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Susquehanna reduced their price target on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $53.38.

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.