Mercer Global Advisors Inc. ADV Decreases Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Mercer Global Advisors Inc. ADV lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 22.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,843 shares of the oil and gas producer's stock after selling 11,344 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Occidental Petroleum were worth $1,919,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Occidental Petroleum by 18.1% in 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 purchasing an additional 10,434,098 shares during the period. Marshall Wace LLP grew its holdings in shares of Occidental Petroleum by 48.1% in the fourth 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 period. Invesco Ltd. increased its position in Occidental Petroleum by 25.2% during 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 acquiring an additional 1,278,389 shares during the last quarter. Scharf Investments LLC lifted its holdings in Occidental Petroleum by 48.7% in the fourth quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer's stock valued at $121,600,000 after acquiring an additional 805,525 shares during the period. Finally, Northern Trust Corp boosted its position in 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 worth $349,085,000 after purchasing an additional 491,797 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on OXY shares. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Stephens dropped their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Scotiabank lowered 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 note on Friday, April 11th. Roth Capital set a $54.00 target price on Occidental Petroleum in a research report on Thursday, January 23rd. Finally, Truist Financial upped their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Occidental Petroleum presently has an average rating of "Hold" and a consensus price target of $54.19.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares of the company's stock, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.49% of the company's stock.

Occidental Petroleum Stock Down 0.6 %

Shares of NYSE OXY opened at $39.03 on Thursday. The stock has a market capitalization of $36.68 billion, a PE ratio of 15.99 and a beta of 0.81. 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 12-month low of $34.79 and a 12-month high of $64.76. The stock's fifty day simple moving average is $43.15 and its two-hundred day simple moving average is $47.39.

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

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is currently 39.34%.

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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