Dimensional Fund Advisors LP Has $651.05 Million Stock Position in Occidental Petroleum Corporation $OXY

Dimensional Fund Advisors LP cut its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 5.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,014,092 shares of the oil and gas producer’s stock after selling 588,568 shares during the period. Dimensional Fund Advisors LP owned about 1.01% of Occidental Petroleum worth $651,049,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of OXY. Woodline Partners LP boosted its stake in Occidental Petroleum by 40.7% in the first quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock valued at $2,817,000 after buying an additional 16,506 shares in the last quarter. Marshall Wace LLP acquired a new position in Occidental Petroleum during the second quarter worth about $4,584,000. Federated Hermes Inc. lifted its holdings in shares of Occidental Petroleum by 696.7% in the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock worth $1,008,000 after acquiring an additional 20,985 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Occidental Petroleum by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock worth $4,443,000 after acquiring an additional 7,285 shares during the last quarter. Finally, AXA S.A. boosted its stake in shares of Occidental Petroleum by 24.3% in the 2nd quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock valued at $5,740,000 after purchasing an additional 26,741 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling

In other Occidental Petroleum news, CEO Richard A. Jackson purchased 4,770 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the acquisition, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $54.89 on Monday. The stock has a market capitalization of $54.60 billion, a PE ratio of 13.83 and a beta of 0.15. The business’s 50 day simple moving average is $54.80 and its 200 day simple moving average is $53.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the company earned $0.14 EPS. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, research analysts forecast that Occidental Petroleum Corporation will post 5.66 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.9%. Occidental Petroleum’s dividend payout ratio is 26.20%.

Wall Street Analyst Weigh In

OXY has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 26th. Barclays upgraded shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $59.00 to $72.00 in a research report on Tuesday, May 26th. Raymond James Financial boosted their target price on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. The Goldman Sachs Group dropped their price target on Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Finally, Evercore raised Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Wednesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $64.17.

About Occidental Petroleum

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.