Occidental Petroleum Corporation $OXY Position Trimmed by Cooke & Bieler LP

Cooke & Bieler LP lowered its stake in Occidental Petroleum Corporation (NYSE:OXY) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,959,030 shares of the oil and gas producer’s stock after selling 15,401 shares during the period. Occidental Petroleum makes up about 1.4% of Cooke & Bieler LP’s investment portfolio, making the stock its 26th largest holding. Cooke & Bieler LP owned approximately 0.30% of Occidental Petroleum worth $139,814,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Occidental Petroleum by 10.3% during the second quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock valued at $3,718,054,000 after purchasing an additional 8,273,030 shares during the last quarter. State Street Corp lifted its stake in Occidental Petroleum by 1.6% during the second quarter. State Street Corp now owns 39,044,478 shares of the oil and gas producer’s stock valued at $1,649,147,000 after buying an additional 615,566 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Occidental Petroleum by 22.0% in the second quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock worth $756,796,000 after buying an additional 3,267,269 shares during the period. Fairfax Financial Holdings Ltd. Can increased its position in shares of Occidental Petroleum by 0.5% in the second quarter. Fairfax Financial Holdings Ltd. Can now owns 6,050,418 shares of the oil and gas producer’s stock worth $254,118,000 after acquiring an additional 30,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Occidental Petroleum by 11.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,955,130 shares of the oil and gas producer’s stock worth $208,165,000 after acquiring an additional 522,408 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on OXY shares. The Goldman Sachs Group decreased their price objective on shares of Occidental Petroleum from $43.00 to $41.00 and set a “sell” rating for the company in a research note on Thursday. UBS Group lowered their price target on Occidental Petroleum from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, December 12th. Jefferies Financial Group reduced their price objective on Occidental Petroleum from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 20th. Barclays began coverage on Occidental Petroleum in a report on Wednesday, January 21st. They issued an “equal weight” rating on the stock. Finally, Wells Fargo & Company cut their target price on shares of Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating for the company in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $47.57.

Insider Activity at Occidental Petroleum

In other news, Director William R. Klesse acquired 5,000 shares of Occidental Petroleum stock in a transaction dated Tuesday, December 16th. The stock was acquired at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the completion of the purchase, the director owned 218,913 shares of the company’s stock, valued at $8,533,228.74. This represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.49% of the stock is currently owned by corporate insiders.

Occidental Petroleum Stock Up 2.3%

Occidental Petroleum stock opened at $44.13 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $52.58. The firm’s fifty day simple moving average is $41.66 and its 200-day simple moving average is $43.33. The company has a market capitalization of $43.47 billion, a P/E ratio of 32.45 and a beta of 0.38.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, topping the consensus estimate of $0.48 by $0.16. The firm had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.66 billion. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 earnings per share. Sell-side analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 70.59%.

Occidental Petroleum Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.