Victory Capital Management Inc. grew its stake in Occidental Petroleum Co. (NYSE:OXY – Get Rating) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 335,516 shares of the oil and gas producer’s stock after purchasing an additional 4,862 shares during the quarter. Victory Capital Management Inc.’s holdings in Occidental Petroleum were worth $21,738,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of OXY. Orion Capital Management LLC acquired a new position in Occidental Petroleum during the fourth quarter worth about $26,000. Hanseatic Management Services Inc. acquired a new position in Occidental Petroleum during the fourth quarter worth about $33,000. New Millennium Group LLC boosted its position in Occidental Petroleum by 221.0% during the fourth quarter. New Millennium Group LLC now owns 642 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 442 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Occidental Petroleum by 56.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 757 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 273 shares during the last quarter. Finally, Accel Wealth Management boosted its position in Occidental Petroleum by 42.4% during the fourth quarter. Accel Wealth Management now owns 927 shares of the oil and gas producer’s stock worth $58,000 after acquiring an additional 276 shares during the last quarter. Institutional investors and hedge funds own 78.45% of the company’s stock.
Insider Buying and Selling at Occidental Petroleum
In other news, major shareholder Berkshire Hathaway Inc acquired 614,020 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were bought at an average cost of $58.66 per share, with a total value of $36,018,413.20. Following the transaction, the insider now owns 216,112,188 shares in the company, valued at approximately $12,677,140,948.08. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have bought 14,781,466 shares of company stock valued at $875,880,626. Insiders own 0.31% of the company’s stock.
Occidental Petroleum Price Performance
Occidental Petroleum (NYSE:OXY – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The oil and gas producer reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.21). Occidental Petroleum had a net margin of 27.06% and a return on equity of 45.10%. The firm had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.37 billion. During the same period in the prior year, the company posted $2.12 earnings per share. The company’s revenue for the quarter was down 15.3% on a year-over-year basis. On average, research analysts forecast that Occidental Petroleum Co. will post 5.31 earnings per share for the current fiscal year.
Occidental Petroleum Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 9th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, June 8th. Occidental Petroleum’s dividend payout ratio is presently 8.25%.
Analysts Set New Price Targets
OXY has been the topic of a number of recent research reports. Susquehanna boosted their price target on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock a “positive” rating in a research report on Friday, April 21st. The Goldman Sachs Group boosted their target price on shares of Occidental Petroleum from $68.00 to $77.00 and gave the company a “buy” rating in a report on Friday, April 21st. UBS Group started coverage on shares of Occidental Petroleum in a report on Wednesday, April 19th. They issued a “neutral” rating and a $68.00 target price on the stock. Mizuho decreased their target price on shares of Occidental Petroleum from $79.00 to $67.00 in a report on Friday. Finally, Citigroup boosted their target price on shares of Occidental Petroleum from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, April 11th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $70.94.
About Occidental Petroleum
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.
- Get a free copy of the StockNews.com research report on Occidental Petroleum (OXY)
- MarketBeat Week in Review – 5/15 – 5/19
- Applied Materials: Cracks In The Chip Recovery Or Time To Buy?
- Deere & Company Rallies On Farm Equipment Boom, Bullish Outlook
- How Many Roth IRAs Can You Have?
- Why You Should Consider Buying Nvidia Ahead Of Earnings
Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Co. (NYSE:OXY – Get Rating).
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.