ProShare Advisors LLC Increases Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

ProShare Advisors LLC increased its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 5.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,647 shares of the oil and gas producer's stock after acquiring an additional 7,038 shares during the quarter. ProShare Advisors LLC's holdings in Occidental Petroleum were worth $6,258,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OXY. Benchmark Investment Advisors LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $642,000. Fisher Asset Management LLC increased its stake in Occidental Petroleum by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock valued at $30,320,000 after buying an additional 6,461 shares during the period. Sarasin & Partners LLP raised its position in Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer's stock worth $48,942,000 after buying an additional 50,983 shares during the last quarter. Rule One Partners LLC lifted its stake in shares of Occidental Petroleum by 18.1% in the 4th quarter. Rule One Partners LLC now owns 325,501 shares of the oil and gas producer's stock worth $16,083,000 after acquiring an additional 50,000 shares during the period. Finally, Mountain Lake Investment Management LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $618,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

OXY has been the subject of several analyst reports. Mizuho cut their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Scotiabank downgraded Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 target price for the company. in a research note on Friday, April 11th. Raymond James downgraded Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and decreased their price target for the company from $81.00 to $64.00 in a research note on Monday, March 10th. Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Finally, Piper Sandler reduced their target price on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $53.14.

Occidental Petroleum Price Performance

Shares of NYSE OXY traded down $0.10 during trading on Friday, reaching $40.98. The company had a trading volume of 2,334,944 shares, compared to its average volume of 11,189,526. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a twelve month low of $34.79 and a twelve month high of $64.76. The stock has a 50-day moving average price of $42.31 and a two-hundred day moving average price of $46.76. The stock has a market capitalization of $40.33 billion, a PE ratio of 16.82 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. The firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. As a group, sell-side analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed 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. This represents a $0.96 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's payout ratio is 39.02%.

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.