Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Czech National Bank

Czech National Bank increased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 137,163 shares of the oil and gas producer’s stock after buying an additional 10,456 shares during the quarter. Czech National Bank’s holdings in Occidental Petroleum were worth $7,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Berkshire Hathaway Inc boosted its position in shares of 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 during the last quarter. Himalaya Capital Management LLC acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at $92,433,000. Clean Energy Transition LLP purchased a new stake in shares of Occidental Petroleum during the 1st quarter valued at $67,601,000. Sarasin & Partners LLP acquired a new stake in shares of Occidental Petroleum during the 2nd quarter worth $63,880,000. Finally, Scharf Investments LLC acquired a new position in Occidental Petroleum in the second quarter valued at $42,744,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on OXY. BMO Capital Markets dropped their price target on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Mizuho cut their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Scotiabank decreased their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday. Wolfe Research began coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price on the stock. Finally, Barclays decreased their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $66.29.

Occidental Petroleum Price Performance

OXY opened at $54.59 on Friday. The firm has a market cap of $48.40 billion, a price-to-earnings ratio of 14.95 and a beta of 1.57. The company’s 50-day moving average price is $54.74 and its 200 day moving average price is $60.41. Occidental Petroleum Co. has a fifty-two week low of $49.75 and a fifty-two week high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter last year, the company earned $0.68 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Occidental Petroleum Co. will post 3.49 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.61%. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

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.