Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 18.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,240 shares of the oil and gas producer’s stock after buying an additional 4,176 shares during the quarter. Van ECK Associates Corp’s holdings in Occidental Petroleum were worth $1,627,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PFG Investments LLC lifted its position in shares of Occidental Petroleum by 2.7% during the third quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer’s stock worth $417,000 after purchasing an additional 170 shares in the last quarter. VisionPoint Advisory Group LLC boosted its holdings in Occidental Petroleum by 1.2% in the third quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock valued at $957,000 after purchasing an additional 174 shares during the last quarter. Conning Inc. grew its stake in Occidental Petroleum by 3.6% during the 3rd quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer’s stock valued at $334,000 after purchasing an additional 180 shares in the last quarter. Donoghue Forlines LLC increased its holdings in Occidental Petroleum by 2.2% during the 3rd quarter. Donoghue Forlines LLC now owns 8,971 shares of the oil and gas producer’s stock worth $582,000 after purchasing an additional 191 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in Occidental Petroleum by 4.2% in the third quarter. Chicago Partners Investment Group LLC now owns 4,904 shares of the oil and gas producer’s stock valued at $308,000 after acquiring an additional 197 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

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

Occidental Petroleum (NYSE:OXY) last announced its 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. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. On average, analysts predict that Occidental Petroleum Co. will post 3.81 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently commented on OXY shares. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Truist Financial lifted their target price on Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Wells Fargo & Company boosted their price target on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Raymond James reduced their price objective on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Stephens reissued an “overweight” rating and set a $74.00 target price on shares of Occidental Petroleum in a report on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $72.00.

Occidental Petroleum Company 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.