Trust Co. of Oklahoma Acquires 832 Shares of Occidental Petroleum Co. (NYSE:OXY)

Trust Co. of Oklahoma boosted its position in Occidental Petroleum Co. (NYSE:OXY) by 23.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,367 shares of the oil and gas producer’s stock after acquiring an additional 832 shares during the period. Trust Co. of Oklahoma’s holdings in Occidental Petroleum were worth $284,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OXY. Berkshire Hathaway Inc boosted its holdings in Occidental Petroleum by 8.7% in the fourth quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock worth $14,552,271,000 after acquiring an additional 19,586,612 shares in the last quarter. American Century Companies Inc. increased its position in shares of Occidental Petroleum by 600.4% during the third quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock valued at $145,520,000 after acquiring an additional 1,922,656 shares during the last quarter. Pacer Advisors Inc. increased its position in Occidental Petroleum by 22.2% in the fourth 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 during the last quarter. ANTIPODES PARTNERS Ltd increased its position in Occidental Petroleum by 51.7% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock worth $139,749,000 after buying an additional 797,894 shares during the last quarter. Finally, TD Asset Management Inc increased its position in Occidental Petroleum by 237.9% in the fourth quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock worth $45,192,000 after buying an additional 532,847 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the subject of a number of recent research reports. Susquehanna raised their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Citigroup decreased their target price on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Truist Financial downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their target price for the stock from $84.00 to $69.00 in a research report on Thursday, May 16th. Finally, HSBC initiated coverage on Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.56.

Occidental Petroleum Price Performance

NYSE:OXY traded down $0.06 during trading hours on Wednesday, hitting $62.30. 4,119,048 shares of the company’s stock traded hands, compared to its average volume of 8,010,507. The firm has a market cap of $55.24 billion, a P/E ratio of 17.03 and a beta of 1.61. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18. The business’s fifty day simple moving average is $62.76 and its two-hundred day simple moving average is $61.83. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same quarter last year, the company earned $1.09 earnings per share. The firm’s quarterly revenue was down 17.2% on a year-over-year basis. On average, research analysts anticipate that Occidental Petroleum Co. will post 3.88 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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.41%. The ex-dividend date is Monday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 24.04%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc purchased 1,386,844 shares of the company’s stock in a transaction on Friday, June 7th. The stock was purchased at an average price of $59.67 per share, with a total value of $82,752,981.48. Following the completion of the purchase, the insider now directly owns 250,583,605 shares in the company, valued at approximately $14,952,323,710.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders bought a total of 4,656,747 shares of company stock valued at $278,664,028 over the last 90 days. Insiders own 0.48% of the company’s stock.

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.