23,150 Shares in Occidental Petroleum Co. (NYSE:OXY) Bought by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co acquired a new stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 23,150 shares of the oil and gas producer's stock, valued at approximately $1,144,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in Occidental Petroleum by 18.1% during the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock worth $3,365,992,000 after acquiring an additional 10,434,098 shares during the last quarter. Berkshire Hathaway Inc lifted its position 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 worth $13,053,055,000 after acquiring an additional 8,896,890 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its position in 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 worth $95,400,000 after acquiring an additional 1,766,491 shares during the last quarter. Marshall Wace LLP lifted its position in 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 acquiring an additional 1,337,728 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Occidental Petroleum by 25.2% during the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock worth $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 Price Performance

Shares of OXY traded down $0.69 during mid-day trading on Friday, hitting $40.77. 8,911,908 shares of the company traded hands, compared to its average volume of 11,268,465. Occidental Petroleum Co. has a one year low of $34.79 and a one year high of $64.76. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average of $41.49 and a 200 day moving average of $46.31. The stock has a market capitalization of $40.12 billion, a price-to-earnings ratio of 16.71 and a beta of 0.81.

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 11.37% and a return on equity of 16.33%. The firm had revenue of $6.80 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same period last year, the firm earned $0.63 earnings per share. The business's revenue for the quarter was up 13.9% on a year-over-year basis. As a group, equities analysts expect 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. Shareholders of record on Tuesday, June 10th will be paid a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.35%. Occidental Petroleum's payout ratio is presently 39.02%.

Analysts Set New Price Targets

A number of research analysts have weighed in on OXY shares. Barclays boosted their target price on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Stephens cut their target price on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Piper Sandler dropped their price objective 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. Hsbc Global Res upgraded shares of Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Finally, Raymond James downgraded shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Three equities 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 stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $53.14.

Occidental Petroleum 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.