10,658 Shares in Occidental Petroleum Corporation (NYSE:OXY) Purchased by True Vision MN LLC

True Vision MN LLC acquired a new position in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,658 shares of the oil and gas producer's stock, valued at approximately $529,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Berkshire Hathaway Inc boosted its stake in shares of Occidental Petroleum by 3.5% in the fourth 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 purchasing an additional 8,896,890 shares during the period. Vanguard Group Inc. boosted its stake in shares of 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 valued at $3,365,992,000 after purchasing an additional 10,434,098 shares during the period. Geode Capital Management LLC boosted its stake in shares of Occidental Petroleum by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock valued at $701,816,000 after purchasing an additional 398,467 shares during the period. Northern Trust Corp boosted its stake in shares of Occidental Petroleum by 7.5% in the fourth quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock valued at $349,085,000 after purchasing an additional 491,797 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of 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 period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stephens decreased their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Susquehanna decreased their price target on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Mizuho decreased their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $53.38.

Occidental Petroleum Stock Performance

NYSE:OXY traded up $0.30 during midday trading on Thursday, reaching $45.87. The stock had a trading volume of 7,657,473 shares, compared to its average volume of 11,872,835. The firm has a fifty day simple moving average of $42.83 and a two-hundred day simple moving average of $45.33. Occidental Petroleum Corporation has a 12-month low of $34.79 and a 12-month high of $64.76. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. The stock has a market cap of $45.14 billion, a P/E ratio of 18.64 and a beta of 0.84.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The firm had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period last year, the firm posted $0.63 EPS. Occidental Petroleum's quarterly revenue was up 13.9% on a year-over-year basis. On average, equities analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.09%. Occidental Petroleum's payout ratio is currently 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.