Schwerin Boyle Capital Management Inc. Buys 57,600 Shares of Occidental Petroleum Co. (NYSE:OXY)

Schwerin Boyle Capital Management Inc. lifted its position in Occidental Petroleum Co. (NYSE:OXY) by 41.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 195,400 shares of the oil and gas producer’s stock after purchasing an additional 57,600 shares during the period. Occidental Petroleum accounts for about 1.3% of Schwerin Boyle Capital Management Inc.’s investment portfolio, making the stock its 26th biggest position. Schwerin Boyle Capital Management Inc.’s holdings in Occidental Petroleum were worth $12,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Commerce Bank increased its stake in shares of Occidental Petroleum by 0.9% during the fourth quarter. Commerce Bank now owns 31,159 shares of the oil and gas producer’s stock valued at $1,861,000 after buying an additional 271 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Occidental Petroleum by 2.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 176,454 shares of the oil and gas producer’s stock valued at $10,536,000 after purchasing an additional 3,448 shares in the last quarter. Bell & Brown Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $2,720,000. United Services Automobile Association boosted its stake in shares of Occidental Petroleum by 7.4% during the fourth quarter. United Services Automobile Association now owns 19,251 shares of the oil and gas producer’s stock valued at $1,149,000 after purchasing an additional 1,320 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its holdings in Occidental Petroleum by 32.3% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 4,183 shares of the oil and gas producer’s stock valued at $250,000 after buying an additional 1,022 shares during the period. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.7 %

Shares of OXY stock opened at $51.64 on Friday. Occidental Petroleum Co. has a fifty-two week low of $49.90 and a fifty-two week high of $71.18. The firm has a market capitalization of $45.79 billion, a PE ratio of 14.11 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The stock’s 50-day simple moving average is $56.91 and its 200-day simple moving average is $61.26.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The company had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. Occidental Petroleum’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. Equities analysts expect that Occidental Petroleum Co. will post 3.71 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.70%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s payout ratio is 24.04%.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on OXY shares. Wolfe Research began coverage on Occidental Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $81.00 target price on the stock. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday. Mizuho decreased their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Stephens reaffirmed an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a research report on Thursday, August 8th. Finally, Susquehanna decreased their target price on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $71.60.

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.