Occidental Petroleum Co. (NYSE:OXY) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC raised its position in Occidental Petroleum Co. (NYSE:OXY) by 14.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,686 shares of the oil and gas producer’s stock after acquiring an additional 15,855 shares during the period. ProShare Advisors LLC’s holdings in Occidental Petroleum were worth $8,048,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of OXY. Berkshire Hathaway Inc raised its holdings in shares of Occidental Petroleum by 8.7% in the fourth quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock worth $14,552,271,000 after buying an additional 19,586,612 shares during the last quarter. Clean Energy Transition LLP purchased a new position in shares of Occidental Petroleum in the first quarter worth $67,601,000. Sarasin & Partners LLP purchased a new position in shares of Occidental Petroleum in the second quarter worth $63,880,000. Scharf Investments LLC purchased a new position in shares of Occidental Petroleum in the second quarter worth $42,744,000. Finally, TD Asset Management Inc raised its holdings in shares of Occidental Petroleum by 237.9% in the fourth quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock worth $45,192,000 after buying an additional 532,847 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on OXY shares. Stephens reaffirmed an “overweight” rating and issued a $76.00 price target on shares of Occidental Petroleum in a report on Thursday, August 8th. Susquehanna decreased their price target on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Wells Fargo & Company reduced their target price on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. StockNews.com cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, September 19th. Finally, Wolfe Research began coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $71.60.

Occidental Petroleum Stock Up 0.3 %

OXY opened at $52.40 on Wednesday. Occidental Petroleum Co. has a fifty-two week low of $49.90 and a fifty-two week high of $71.18. 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 company has a fifty day moving average of $56.52 and a two-hundred day moving average of $61.14. The stock has a market capitalization of $46.46 billion, a price-to-earnings ratio of 14.32 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, research analysts expect that Occidental Petroleum Co. will post 3.71 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.68%. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

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.