Dimensional Fund Advisors LP Has $463.64 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Dimensional Fund Advisors LP cut its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,356,155 shares of the oil and gas producer’s stock after selling 27,628 shares during the period. Dimensional Fund Advisors LP owned about 0.83% of Occidental Petroleum worth $463,639,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. raised its holdings in Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 167 shares during the last quarter. LifeSteps Financial Inc. bought a new position in Occidental Petroleum during the 1st quarter worth approximately $34,000. Able Wealth Management LLC bought a new position in Occidental Petroleum during the 4th quarter worth approximately $38,000. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at $44,000. Finally, LRI Investments LLC bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at $44,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s 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 sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on OXY. Wolfe Research began coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective for the company. UBS Group lifted their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Scotiabank cut their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Citigroup cut their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Finally, Truist Financial cut their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $72.33.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $51.30 on Tuesday. The company’s 50-day moving average is $57.66 and its 200 day moving average is $61.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The company has a market capitalization of $46.45 billion, a P/E ratio of 14.02 and a beta of 1.58. Occidental Petroleum Co. has a fifty-two week low of $49.90 and a fifty-two week high of $71.18.

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

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 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.