27,573 Shares in Occidental Petroleum Corporation $OXY Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, Holdings Channel.com reports. The fund bought 27,573 shares of the oil and gas producer’s stock, valued at approximately $1,339,000.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in shares of Occidental Petroleum by 84.8% in the second quarter. Bank of New York Mellon Corp now owns 10,643,916 shares of the oil and gas producer’s stock worth $516,975,000 after acquiring an additional 4,882,834 shares during the period. Danske Bank A S bought a new position in Occidental Petroleum in the 2nd quarter worth about $172,413,000. Dimensional Fund Advisors LP grew its holdings in Occidental Petroleum by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after buying an additional 1,883,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Occidental Petroleum by 54.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock valued at $162,820,000 after buying an additional 1,393,638 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Occidental Petroleum by 1,029.9% during the third quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock valued at $70,580,000 after buying an additional 1,361,541 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson bought 4,770 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on OXY. Truist Financial raised their price objective on shares of Occidental Petroleum from $57.00 to $63.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Citigroup lowered their target price on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Mizuho raised their price target on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Capital One Financial boosted their price target on shares of Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Finally, Zacks Research downgraded Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $64.83.

Occidental Petroleum Stock Up 0.1%

Shares of NYSE:OXY opened at $61.34 on Monday. The stock’s 50-day moving average price is $54.56 and its 200-day moving average price is $55.55. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $61.32 billion, a P/E ratio of 9.50, a price-to-earnings-growth ratio of 0.79 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter last year, the firm earned $0.39 EPS. The company’s revenue was up 53.4% on a year-over-year basis. On average, equities analysts anticipate that Occidental Petroleum Corporation will post 6.09 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be given a dividend of $0.28 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. Occidental Petroleum’s dividend payout ratio is presently 16.10%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.