TCW Group Inc. Has $4.92 Million Position in Occidental Petroleum Co. (NYSE:OXY)

TCW Group Inc. lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,999 shares of the oil and gas producer’s stock after selling 8,988 shares during the quarter. TCW Group Inc.’s holdings in Occidental Petroleum were worth $4,916,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of OXY. Cerity Partners LLC boosted its holdings in shares of Occidental Petroleum by 42.3% in the 4th quarter. Cerity Partners LLC now owns 34,958 shares of the oil and gas producer’s stock valued at $2,087,000 after purchasing an additional 10,387 shares in the last quarter. Simplicity Solutions LLC boosted its holdings in shares of Occidental Petroleum by 10.4% in the 4th quarter. Simplicity Solutions LLC now owns 9,151 shares of the oil and gas producer’s stock valued at $546,000 after purchasing an additional 861 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Occidental Petroleum by 6.2% in the 4th quarter. Mackenzie Financial Corp now owns 33,615 shares of the oil and gas producer’s stock valued at $2,007,000 after purchasing an additional 1,964 shares in the last quarter. SVB Wealth LLC boosted its holdings in shares of Occidental Petroleum by 2.5% in the 4th quarter. SVB Wealth LLC now owns 12,575 shares of the oil and gas producer’s stock valued at $751,000 after purchasing an additional 308 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Occidental Petroleum by 53.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 230,742 shares of the oil and gas producer’s stock valued at $13,778,000 after purchasing an additional 80,194 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Berkshire Hathaway Inc bought 334,461 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was bought at an average price of $59.75 per share, with a total value of $19,984,044.75. Following the completion of the transaction, the insider now directly owns 255,281,524 shares of the company’s stock, valued at approximately $15,253,071,059. The disclosure for this purchase can be found here. Insiders bought 4,656,747 shares of company stock worth $278,664,028 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OXY. Susquehanna increased their price target on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Mizuho raised their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Stephens reaffirmed an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. Truist Financial lowered their target price on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Finally, Scotiabank lowered their price objective on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Ten equities research analysts have rated the stock with 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.com, Occidental Petroleum has an average rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded down $0.20 during mid-day trading on Friday, reaching $57.61. The company had a trading volume of 8,914,689 shares, compared to its average volume of 8,157,750. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The firm has a market cap of $51.08 billion, a price-to-earnings ratio of 15.74 and a beta of 1.61. The company’s 50-day moving average price is $60.58 and its 200-day moving average price is $62.12. Occidental Petroleum Co. has a one year low of $55.04 and a one year high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) 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 business 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 firm posted $0.68 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 3.63 EPS 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. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.53%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 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.