Principal Financial Group Inc. Buys 32,117 Shares of Occidental Petroleum Corporation (NYSE:OXY)

Principal Financial Group Inc. boosted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 801,603 shares of the oil and gas producer's stock after acquiring an additional 32,117 shares during the quarter. Principal Financial Group Inc. owned about 0.09% of Occidental Petroleum worth $39,567,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of OXY. Horizon Investments LLC boosted its holdings in shares of Occidental Petroleum by 2.3% in the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock valued at $554,000 after buying an additional 257 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Occidental Petroleum by 20.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock worth $81,000 after acquiring an additional 274 shares during the last quarter. Koshinski Asset Management Inc. increased its stake in Occidental Petroleum by 1.0% during the first quarter. Koshinski Asset Management Inc. now owns 32,736 shares of the oil and gas producer's stock worth $1,616,000 after acquiring an additional 309 shares during the last quarter. Seaview Investment Managers LLC grew its stake in shares of Occidental Petroleum by 6.8% in the fourth quarter. Seaview Investment Managers LLC now owns 4,891 shares of the oil and gas producer's stock valued at $242,000 after buying an additional 310 shares in the last quarter. Finally, Aaron Wealth Advisors LLC grew its stake in shares of Occidental Petroleum by 4.9% in the first quarter. Aaron Wealth Advisors LLC now owns 6,663 shares of the oil and gas producer's stock worth $329,000 after acquiring an additional 310 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OXY. Raymond James Financial cut Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Piper Sandler cut their target price on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Barclays boosted their price target on Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Scotiabank lowered shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective for the company. in a research report on Friday, April 11th. Finally, UBS Group lowered their target price on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Three 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 company's stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and an average target price of $53.38.

Occidental Petroleum Stock Up 4.1%

NYSE OXY traded up $1.78 during trading on Tuesday, hitting $45.13. 2,380,024 shares of the company traded hands, compared to its average volume of 11,781,992. Occidental Petroleum Corporation has a 12 month low of $34.79 and a 12 month high of $64.76. The company has a market capitalization of $44.41 billion, a P/E ratio of 18.27 and a beta of 0.84. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90. The business has a fifty day simple moving average of $42.60 and a 200 day simple moving average of $45.33.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. The business had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. As a group, sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.13%. Occidental Petroleum's dividend payout ratio is 39.02%.

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.