Kennondale Capital Management LLC Increases Stock Position in Occidental Petroleum Corporation (NYSE:OXY)

Kennondale Capital Management LLC boosted its stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 169.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,090 shares of the oil and gas producer's stock after purchasing an additional 27,071 shares during the period. Occidental Petroleum comprises about 2.3% of Kennondale Capital Management LLC's holdings, making the stock its 11th largest holding. Kennondale Capital Management LLC's holdings in Occidental Petroleum were worth $2,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Berkshire Hathaway Inc raised its stake in 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 buying an additional 8,896,890 shares during the last quarter. Vanguard Group Inc. raised 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 last quarter. Geode Capital Management LLC raised 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 last quarter. Northern Trust Corp raised 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 last quarter. Finally, Invesco Ltd. raised 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 last quarter. Institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Stephens reduced their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. UBS Group dropped their price target on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Susquehanna lowered their price objective 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. Finally, Barclays boosted their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $53.71.

Occidental Petroleum Trading Up 0.4%

Shares of Occidental Petroleum stock traded up $0.20 during trading on Thursday, reaching $44.64. The company's stock had a trading volume of 6,085,268 shares, compared to its average volume of 12,189,595. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $61.35. The company has a market cap of $43.93 billion, a price-to-earnings ratio of 18.14 and a beta of 0.84. The firm's 50-day moving average is $43.37 and its two-hundred day moving average is $45.01. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The firm's revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.15%. Occidental Petroleum's dividend payout ratio (DPR) is 39.02%.

About Occidental Petroleum

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.