Occidental Petroleum Corporation $OXY Shares Bought by Schwartz Investment Counsel Inc.

Key Points

• Schwartz Investment Counsel Inc. increased its holdings in Occidental Petroleum by 31.1% in Q2, acquiring an additional 99,320 shares, which brought their total to 418,750 shares valued at $17,592,000.
• Vanguard Group Inc. also boosted its stake in Occidental Petroleum by 17.8%, owning 80,230,989 shares worth approximately $3.96 billion after a significant purchase in Q1.
• Occidental Petroleum announced a quarterly dividend of $0.24, with a payment yield of 2.3% and a payout ratio of 56.80%, reflecting financial stability amid fluctuating earnings.

Schwartz Investment Counsel Inc. raised its holdings in Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 31.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 418,750 shares of the oil and gas producer's stock after acquiring an additional 99,320 shares during the period. Schwartz Investment Counsel Inc.'s holdings in Occidental Petroleum were worth $17,592,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Occidental Petroleum by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer's stock valued at $3,960,202,000 after buying an additional 12,107,285 shares during the period. Nuveen LLC purchased a new stake in shares of Occidental Petroleum during the 1st quarter valued at $99,853,000. Dimensional Fund Advisors LP grew its stake in shares of Occidental Petroleum by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer's stock valued at $401,162,000 after buying an additional 710,220 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Occidental Petroleum by 926.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer's stock valued at $38,381,000 after buying an additional 701,846 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Occidental Petroleum during the 2nd quarter valued at $28,584,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on OXY shares. Wells Fargo & Company started coverage on shares of Occidental Petroleum in a research note on Friday. They set an "underweight" rating and a $42.00 price objective for the company. Melius assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a "hold" rating and a $64.00 price objective for the company. Hsbc Global Res raised shares of Occidental Petroleum from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Piper Sandler upped their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, HSBC raised shares of Occidental Petroleum from a "hold" rating to a "buy" rating and upped their price target for the stock from $48.00 to $55.00 in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $52.39.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $41.05 on Tuesday. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $53.20. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The firm has a market capitalization of $40.41 billion, a P/E ratio of 24.29 and a beta of 0.95. The company's fifty day moving average price is $45.41 and its two-hundred day moving average price is $43.39.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The firm had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the business posted $1.03 EPS. The firm's revenue was down 6.1% compared to the same quarter last year. On average, research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th were issued a $0.24 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Occidental Petroleum's payout ratio is currently 56.80%.

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.

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