Vanguard Personalized Indexing Management LLC Boosts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Vanguard Personalized Indexing Management LLC lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 19.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,630 shares of the oil and gas producer’s stock after acquiring an additional 10,796 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Occidental Petroleum were worth $4,198,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of OXY. Berkshire Hathaway Inc lifted its position in shares of Occidental Petroleum by 8.7% during the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after buying an additional 19,586,612 shares in the last quarter. Clean Energy Transition LLP acquired a new position in Occidental Petroleum during the first quarter worth $67,601,000. Sarasin & Partners LLP purchased a new position in Occidental Petroleum during the second quarter valued at $63,880,000. Scharf Investments LLC acquired a new stake in shares of Occidental Petroleum in the second quarter valued at about $42,744,000. Finally, TD Asset Management Inc raised its position in shares of Occidental Petroleum by 237.9% during the 4th quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock worth $45,192,000 after purchasing an additional 532,847 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum 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 transaction of $697,125,000.00. Following the completion of the sale, the insider now directly 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 is available through this hyperlink. 0.31% of the stock is owned by insiders.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $52.03 on Friday. The firm has a 50 day simple moving average of $57.10 and a 200-day simple moving average of $61.32. The stock has a market cap of $47.12 billion, a price-to-earnings ratio of 14.22 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. Occidental Petroleum Co. has a 1-year low of $49.90 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 17.91% and a net margin of 16.62%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. On average, analysts expect that Occidental Petroleum Co. will post 3.71 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s payout ratio is 24.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on OXY shares. Citigroup cut their price objective on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Mizuho reduced their price objective on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday. Truist Financial lowered their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Stephens reiterated an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. Finally, UBS Group decreased their price target on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $71.60.

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.