Occidental Petroleum Corporation (NYSE:OXY) Shares Bought by Brown Advisory Inc.

Brown Advisory Inc. grew its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 20.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,523 shares of the oil and gas producer’s stock after acquiring an additional 2,765 shares during the quarter. Brown Advisory Inc.’s holdings in Occidental Petroleum were worth $816,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Benchmark Investment Advisors LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter valued at $642,000. Vanguard Group Inc. raised its stake in shares of Occidental Petroleum by 18.1% during the fourth quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock valued at $3,365,992,000 after purchasing an additional 10,434,098 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Occidental Petroleum by 9.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock valued at $78,813,000 after purchasing an additional 140,528 shares in the last quarter. Invesco Ltd. raised its stake in shares of Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer’s stock valued at $314,133,000 after purchasing an additional 1,278,389 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Occidental Petroleum by 7.5% during the fourth quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer’s stock valued at $349,085,000 after purchasing an additional 491,797 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Stephens cut their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Susquehanna cut their price objective on shares of Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Hsbc Global Res upgraded shares of Occidental Petroleum to a “hold” rating in a research note on Wednesday, April 16th. Citigroup boosted their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, May 19th. Finally, Piper Sandler dropped their price target on shares of Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $53.62.

Occidental Petroleum Trading Down 2.5%

NYSE:OXY opened at $45.14 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. Occidental Petroleum Corporation has a fifty-two week low of $34.79 and a fifty-two week high of $64.76. The stock’s 50-day moving average is $43.18 and its two-hundred day moving average is $45.24. The stock has a market cap of $44.43 billion, a PE ratio of 18.35 and a beta of 0.84.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The company had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.97 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 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 Tuesday, July 15th. Investors of record on Tuesday, June 10th will be paid a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.13%. Occidental Petroleum’s payout ratio is 39.02%.

About Occidental Petroleum

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.