Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Victory Capital Management Inc.

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

Shares of OXY opened at $59.13 on Monday. Occidental Petroleum Co. has a fifty-two week low of $54.30 and a fifty-two week high of $77.13. The firm’s 50 day moving average price is $60.84 and its 200 day moving average price is $63.55. The company has a market cap of $52.73 billion, a P/E ratio of 6.77, a PEG ratio of 0.51 and a beta of 1.78. The company has a quick ratio of 0.78, a current ratio of 1.09 and a debt-to-equity ratio of 0.96.

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

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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.