Occidental Petroleum Corporation (NYSE:OXY) Shares Bought by GFG Capital LLC

GFG Capital LLC raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 35.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,687 shares of the oil and gas producer's stock after purchasing an additional 14,435 shares during the quarter. Occidental Petroleum comprises 0.8% of GFG Capital LLC's holdings, making the stock its 25th biggest position. GFG Capital LLC's holdings in Occidental Petroleum were worth $2,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Berkshire Hathaway Inc increased its stake in Occidental Petroleum by 3.5% during the 4th 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. boosted its holdings in shares of Occidental Petroleum by 18.1% in the 4th 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 during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Occidental Petroleum by 2.9% in the 4th 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 during the last quarter. Northern Trust Corp boosted its holdings in shares of Occidental Petroleum by 7.5% in the 4th 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 during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Occidental Petroleum by 25.2% in 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 acquiring an additional 1,278,389 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Trading Down 0.4%

Occidental Petroleum stock traded down $0.18 during midday trading on Wednesday, hitting $45.57. 8,681,696 shares of the stock were exchanged, compared to its average volume of 11,837,809. Occidental Petroleum Corporation has a fifty-two week low of $34.79 and a fifty-two week high of $64.76. The stock has a market capitalization of $44.85 billion, a price-to-earnings ratio of 18.52 and a beta of 0.84. The stock's 50-day simple moving average is $42.71 and its 200 day simple moving average is $45.33. 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 posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The business had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.11%. Occidental Petroleum's payout ratio is 39.02%.

Analyst Upgrades and Downgrades

OXY has been the topic of several recent research reports. Stephens dropped their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Barclays increased their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Piper Sandler lowered their price target on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price target on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus 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.