Occidental Petroleum Co. (NYSE:OXY) Stake Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,236,980 shares of the oil and gas producer’s stock after buying an additional 229,210 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.45% of Occidental Petroleum worth $209,349,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its holdings in shares of Occidental Petroleum by 15.2% during the third quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock valued at $11,440,000 after purchasing an additional 29,344 shares during the period. Van ECK Associates Corp grew its position in Occidental Petroleum by 124.5% in the 3rd quarter. Van ECK Associates Corp now owns 18,481 shares of the oil and gas producer’s stock valued at $948,000 after buying an additional 10,248 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in Occidental Petroleum by 52.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 5,143 shares of the oil and gas producer’s stock valued at $265,000 after buying an additional 1,770 shares during the period. Ironsides Asset Advisors LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter worth about $268,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Occidental Petroleum by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 773,762 shares of the oil and gas producer’s stock worth $39,880,000 after acquiring an additional 51,042 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 3,614,015 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the transaction, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. The trade was a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 6,854,394 shares of company stock valued at $315,101,532. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Stephens reissued an “overweight” rating and set a $71.00 target price on shares of Occidental Petroleum in a report on Wednesday, February 19th. Raymond James boosted their price objective on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Mizuho dropped their price target on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, Truist Financial raised their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $61.50.

Occidental Petroleum Stock Up 0.4 %

Shares of Occidental Petroleum stock opened at $45.69 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.18. The stock has a 50-day moving average price of $49.29 and a 200 day moving average price of $50.79. The company has a market cap of $42.88 billion, a P/E ratio of 18.73 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, analysts expect that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.10%. Occidental Petroleum’s dividend payout ratio is 39.34%.

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.