Citizens Financial Group Inc. RI Acquires 614 Shares of Occidental Petroleum Co. (NYSE:OXY)

Citizens Financial Group Inc. RI lifted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 16.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,245 shares of the oil and gas producer’s stock after acquiring an additional 614 shares during the period. Citizens Financial Group Inc. RI’s holdings in Occidental Petroleum were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cullen Investment Group LTD. bought a new position in shares of Occidental Petroleum in the 4th quarter worth about $1,006,000. Koshinski Asset Management Inc. raised its position in shares of Occidental Petroleum by 53.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock worth $2,877,000 after acquiring an additional 16,871 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Occidental Petroleum by 139.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,529 shares of the oil and gas producer’s stock worth $5,104,000 after acquiring an additional 45,722 shares in the last quarter. Bridgefront Capital LLC bought a new stake in Occidental Petroleum in the 4th quarter valued at about $763,000. Finally, Alberta Investment Management Corp increased its position in Occidental Petroleum by 143.2% in the 4th quarter. Alberta Investment Management Corp now owns 36,475 shares of the oil and gas producer’s stock valued at $2,178,000 after buying an additional 21,475 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 1,060,653 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $59.59 per share, for a total transaction of $63,204,312.27. Following the purchase, the insider now directly owns 254,947,063 shares of the company’s stock, valued at $15,192,295,484.17. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders have acquired 4,656,747 shares of company stock worth $278,664,028 in the last 90 days. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $57.67 on Friday. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The stock’s 50 day moving average price is $61.28 and its 200-day moving average price is $62.08. The company has a market capitalization of $51.13 billion, a PE ratio of 15.76 and a beta of 1.61. 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 announced its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the previous year, the business earned $1.09 EPS. The company’s revenue was down 17.2% compared to the same quarter last year. On average, equities analysts anticipate that Occidental Petroleum Co. will post 3.66 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.53%. Occidental Petroleum’s payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. 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. Wolfe Research assumed coverage on Occidental Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price for the company. Scotiabank decreased their target price on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company decreased their target price on Occidental Petroleum from $69.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Finally, Mizuho boosted their target price on Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $72.31.

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.