Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. grew its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 20.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,661,231 shares of the oil and gas producer’s stock after acquiring an additional 277,462 shares during the quarter. Epoch Investment Partners Inc. owned about 0.19% of Occidental Petroleum worth $104,707,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Berkshire Hathaway Inc raised its stake in shares of Occidental Petroleum by 8.7% during the fourth 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 purchasing an additional 19,586,612 shares in the last quarter. American Century Companies Inc. raised its position in Occidental Petroleum by 16.8% in the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after acquiring an additional 532,318 shares in the last quarter. Cooke & Bieler LP raised its position in Occidental Petroleum by 53.1% in the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock worth $91,398,000 after acquiring an additional 503,173 shares in the last quarter. Clean Energy Transition LLP bought a new stake in Occidental Petroleum in the first quarter worth about $67,601,000. Finally, Sarasin & Partners LLP bought a new stake in Occidental Petroleum in the second quarter worth about $63,880,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OXY shares. Mizuho dropped their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. StockNews.com cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday. Susquehanna cut their price objective on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Truist Financial cut their price objective on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Finally, Wells Fargo & Company cut their price objective on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $71.60.

Insider Activity at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred on 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 sale, 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 document filed with the SEC, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Occidental Petroleum Trading Down 0.7 %

NYSE:OXY opened at $51.64 on Friday. 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 fifty-two week low of $49.90 and a fifty-two week high of $71.18. The stock’s 50-day moving average is $56.91 and its two-hundred day moving average is $61.26. The stock has a market cap of $45.79 billion, a PE ratio of 14.11 and a beta of 1.58.

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

Occidental Petroleum Dividend Announcement

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

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.