EP Wealth Advisors LLC Has $1.13 Million Holdings in Occidental Petroleum Co. (NYSE:OXY)

EP Wealth Advisors LLC lifted its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 80.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,868 shares of the oil and gas producer's stock after acquiring an additional 10,213 shares during the period. EP Wealth Advisors LLC's holdings in Occidental Petroleum were worth $1,130,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OXY. Vanguard Group Inc. increased its stake 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 purchasing an additional 10,434,098 shares in the last quarter. Berkshire Hathaway Inc boosted its holdings 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 buying an additional 8,896,890 shares during the period. Marshall Wace LLP increased its position in shares of Occidental Petroleum by 48.1% during 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 in the last quarter. Invesco Ltd. raised its holdings in shares of 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 worth $314,133,000 after acquiring an additional 1,278,389 shares during the period. Finally, Scharf Investments LLC boosted its stake in Occidental Petroleum by 48.7% in the 4th quarter. Scharf Investments LLC now owns 2,461,033 shares of the oil and gas producer's stock worth $121,600,000 after purchasing an additional 805,525 shares during the period. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Performance

OXY traded up $0.81 during trading hours on Friday, reaching $42.25. The company's stock had a trading volume of 11,641,949 shares, compared to its average volume of 11,080,615. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The company's 50-day moving average is $42.96 and its 200-day moving average is $47.19. Occidental Petroleum Co. has a 52 week low of $34.79 and a 52 week high of $64.76. The firm has a market cap of $39.71 billion, a PE ratio of 17.32 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data 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. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The company's revenue was up 13.9% on a year-over-year basis. On average, equities analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's payout ratio is 39.34%.

Analyst Ratings Changes

OXY has been the topic of several recent research reports. Scotiabank downgraded Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price target on the stock. in a research note on Friday, April 11th. Wells Fargo & Company cut their target price on Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Piper Sandler reduced their price target on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Susquehanna cut their price objective on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Finally, Truist Financial lifted their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of "Hold" and an average price target of $54.05.

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.