Van ECK Associates Corp Has $1.63 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

Van ECK Associates Corp lifted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,240 shares of the oil and gas producer’s stock after acquiring an additional 4,176 shares during the quarter. Van ECK Associates Corp’s holdings in Occidental Petroleum were worth $1,627,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. American Century Companies Inc. boosted its stake in Occidental Petroleum by 600.4% in the third quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock worth $145,520,000 after purchasing an additional 1,922,656 shares in the last quarter. Pacer Advisors Inc. lifted its position in Occidental Petroleum by 22.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock worth $357,977,000 after buying an additional 1,088,052 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its position in Occidental Petroleum by 51.7% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after acquiring an additional 797,894 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Occidental Petroleum in the third quarter worth about $29,665,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Occidental Petroleum by 1,279.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 231,899 shares of the oil and gas producer’s stock worth $13,847,000 after acquiring an additional 215,091 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Down 2.1 %

NYSE:OXY opened at $63.69 on Thursday. The business’s 50-day simple moving average is $64.98 and its 200-day simple moving average is $61.34. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. The stock has a market capitalization of $56.46 billion, a PE ratio of 16.29 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. The business’s quarterly revenue was down 17.2% compared to the same quarter last year. Sell-side analysts expect that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s dividend payout ratio is 22.51%.

Analysts Set New Price Targets

Several research analysts recently weighed in on OXY shares. Stephens restated an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research report on Thursday, February 15th. HSBC started coverage on Occidental Petroleum in a research report on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. Truist Financial raised their target price on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Mizuho boosted their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $72.00.

Occidental Petroleum 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.