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Chapin Davis Inc. Buys Shares of 11,738 Occidental Petroleum Corporation (NYSE:OXY)

Occidental Petroleum logo with Energy background

Chapin Davis Inc. purchased a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,738 shares of the oil and gas producer's stock, valued at approximately $579,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Berkshire Hathaway Inc increased its stake in shares of Occidental Petroleum by 3.5% during 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 in the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 valued at $3,365,992,000 after acquiring an additional 10,434,098 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 valued at $701,816,000 after acquiring an additional 398,467 shares in the last quarter. Northern Trust Corp increased its holdings in shares of 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 valued at $349,085,000 after acquiring an additional 491,797 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Occidental Petroleum by 25.2% during 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 purchasing an additional 1,278,389 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Analysts Set New Price Targets

OXY has been the subject of several analyst reports. Hsbc Global Res raised shares of Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the company an "overweight" rating in a research report on Wednesday, March 26th. TD Cowen downgraded Occidental Petroleum from a "buy" rating to a "hold" rating and cut their price objective for the company from $68.00 to $45.00 in a research note on Tuesday, April 8th. Citigroup upped their price objective on Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Finally, Piper Sandler dropped their price objective on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Three equities research 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 MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and a consensus target price of $53.38.

Check Out Our Latest Report on Occidental Petroleum

Occidental Petroleum Price Performance

OXY traded up $0.73 on Thursday, reaching $43.15. 11,931,719 shares of the company's stock were exchanged, compared to its average volume of 11,681,972. The stock has a market cap of $42.47 billion, a PE ratio of 17.54 and a beta of 0.87. The stock's fifty day moving average price is $42.15 and its 200-day moving average price is $45.54. Occidental Petroleum Corporation has a twelve month low of $34.79 and a twelve month high of $64.76. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79.

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. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. Sell-side analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.22%. Occidental Petroleum's payout ratio is 39.02%.

About Occidental Petroleum

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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