Occidental Petroleum Corporation (NYSE:OXY) Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Occidental Petroleum by 4.6%, owning a total of 4,432,722 shares valued at approximately $218.80 million as of its latest SEC filing.
• Occidental Petroleum reported $0.39 earnings per share in its most recent quarterly earnings, exceeding analyst expectations, though its revenue declined by 6.1% compared to the previous year.
• The company announced a quarterly dividend of $0.24 per share, with a subsequent annual dividend yield of 2.2%, indicating a healthy payout ratio of 56.80%.

Charles Schwab Investment Management Inc. increased its position in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 4.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,432,722 shares of the oil and gas producer's stock after buying an additional 195,742 shares during the period. Charles Schwab Investment Management Inc. owned about 0.47% of Occidental Petroleum worth $218,799,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of OXY. Vanguard Group Inc. boosted its stake in Occidental Petroleum by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer's stock worth $3,960,202,000 after purchasing an additional 12,107,285 shares during the period. Westwood Holdings Group Inc. raised its holdings in shares of Occidental Petroleum by 15.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 10,280 shares of the oil and gas producer's stock worth $507,000 after acquiring an additional 1,397 shares in the last quarter. Encompass More Asset Management purchased a new stake in shares of Occidental Petroleum during the 1st quarter worth approximately $209,000. Cary Street Partners Financial LLC raised its holdings in Occidental Petroleum by 338.3% during the 1st quarter. Cary Street Partners Financial LLC now owns 14,596 shares of the oil and gas producer's stock valued at $720,000 after buying an additional 11,266 shares during the period. Finally, Solitude Financial Services purchased a new stake in Occidental Petroleum during the 1st quarter valued at $433,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Wall Street Zen downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Saturday. Barclays raised their price target on Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Scotiabank raised their price target on Occidental Petroleum from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Finally, UBS Group reduced their price target on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $53.71.

Occidental Petroleum Stock Up 0.8%

Shares of OXY traded up $0.37 during mid-day trading on Tuesday, reaching $44.08. The company's stock had a trading volume of 8,256,480 shares, compared to its average volume of 11,511,318. Occidental Petroleum Corporation has a 12-month low of $34.78 and a 12-month high of $58.47. The stock has a market cap of $43.39 billion, a PE ratio of 26.08 and a beta of 0.91. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The company's 50 day moving average is $43.98 and its 200 day moving average is $44.25.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%. The firm's quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. Equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. Occidental Petroleum's payout ratio is presently 56.80%.

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.