Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 47.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,158 shares of the oil and gas producer's stock after acquiring an additional 16,188 shares during the quarter. Mackenzie Financial Corp's holdings in Occidental Petroleum were worth $2,478,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in OXY. Berkshire Hathaway Inc increased its position 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 valued at $13,053,055,000 after acquiring an additional 8,896,890 shares during the last quarter. Vanguard Group Inc. increased its position 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 valued at $3,365,992,000 after acquiring an additional 10,434,098 shares during the last quarter. Geode Capital Management LLC boosted its position 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 buying an additional 398,467 shares during the period. Northern Trust Corp boosted its position 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 buying an additional 491,797 shares during the period. Finally, Invesco Ltd. boosted its position in shares of 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 valued at $314,133,000 after buying an additional 1,278,389 shares during the period. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock traded up $0.59 on Monday, hitting $41.37. The company's stock had a trading volume of 5,114,471 shares, compared to its average volume of 11,244,843. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The firm has a fifty day moving average price of $41.49 and a 200-day moving average price of $46.31. The company has a market capitalization of $40.71 billion, a price-to-earnings ratio of 16.92 and a beta of 0.81. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $64.76.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results 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 return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. During the same period in the prior year, the business earned $0.63 earnings per share. The business's revenue was up 13.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's payout ratio is 39.02%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley set a $58.00 target price on Occidental Petroleum and gave the company an "overweight" rating in a research report on Wednesday, March 26th. UBS Group dropped their target price on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Citigroup increased their price objective on Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Finally, TD Cowen downgraded shares of 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 report on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $53.14.

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.