Occidental Petroleum Corporation (NYSE:OXY) Shares Acquired by Cooke & Bieler LP

Cooke & Bieler LP grew its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,051,713 shares of the oil and gas producer's stock after purchasing an additional 93,117 shares during the period. Occidental Petroleum comprises 1.5% of Cooke & Bieler LP's portfolio, making the stock its 23rd largest holding. Cooke & Bieler LP owned about 0.32% of Occidental Petroleum worth $150,633,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OXY. Vanguard Group Inc. increased its position in Occidental Petroleum by 18.1% in 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 during the period. Berkshire Hathaway Inc grew its holdings in Occidental Petroleum by 3.5% in 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 buying an additional 8,896,890 shares in the last quarter. Worldquant Millennium Advisors LLC lifted its position in shares of Occidental Petroleum by 1,075.3% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer's stock valued at $95,400,000 after acquiring an additional 1,766,491 shares during the period. Marshall Wace LLP lifted its position in shares of Occidental Petroleum by 48.1% during the 4th quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer's stock worth $203,459,000 after buying an additional 1,337,728 shares during the last quarter. Finally, Invesco Ltd. raised its position 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. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY traded up $0.92 during trading hours on Thursday, reaching $43.55. 11,300,881 shares of the stock traded hands, compared to its average volume of 12,040,763. The company has a market capitalization of $42.86 billion, a P/E ratio of 17.70 and a beta of 0.84. Occidental Petroleum Corporation has a 52-week low of $34.79 and a 52-week high of $64.76. The company's 50-day simple moving average is $43.32 and its two-hundred day simple moving average is $45.21. 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 posted its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The firm had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company's revenue was up 13.9% on a year-over-year basis. Equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th were issued a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.20%. Occidental Petroleum's payout ratio is 39.02%.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of research reports. Barclays raised their price objective on Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Mizuho dropped their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. TD Cowen downgraded Occidental Petroleum from a "buy" rating to a "hold" rating and cut their price target for the stock from $68.00 to $45.00 in a research note on Tuesday, April 8th. Stephens lowered their price target 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $53.71.

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.