DDD Partners LLC Purchases Shares of 14,570 Occidental Petroleum Corporation (NYSE:OXY)

DDD Partners LLC 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,570 shares of the oil and gas producer's stock, valued at approximately $719,000.

A number of other institutional investors have also recently added to or reduced their stakes in OXY. Berkshire Hathaway Inc lifted 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 worth $13,053,055,000 after purchasing an additional 8,896,890 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 worth $3,365,992,000 after purchasing an additional 10,434,098 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 worth $701,816,000 after purchasing an additional 398,467 shares in the last quarter. Northern Trust Corp boosted its holdings in Occidental Petroleum by 7.5% in 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 purchasing an additional 491,797 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Occidental Petroleum by 25.2% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OXY. Wells Fargo & Company reduced their price target on Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a report on Tuesday. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. increased their price target on Occidental Petroleum from $47.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday. Mizuho reduced their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, Piper Sandler reduced their price target on 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 data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $53.62.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock traded down $0.05 on Wednesday, reaching $42.64. 13,658,627 shares of the company were exchanged, compared to its average volume of 12,027,205. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.79 and a current ratio of 1.01. The company's 50-day moving average is $43.25 and its two-hundred day moving average is $45.23. The firm has a market cap of $41.96 billion, a price-to-earnings ratio of 17.33 and a beta of 0.84. Occidental Petroleum Corporation has a 1-year low of $34.79 and a 1-year high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results 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 return on equity of 16.60% and a net margin of 11.20%. The business had revenue of $6.80 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same period in the prior year, the firm earned $0.63 EPS. The business's quarterly revenue was up 13.9% on a year-over-year basis. As a group, research analysts expect that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is 39.02%.

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.