Earnest Partners LLC Buys 173 Shares of Occidental Petroleum Co. (NYSE:OXY)

Earnest Partners LLC increased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,850 shares of the oil and gas producer’s stock after buying an additional 173 shares during the quarter. Earnest Partners LLC’s holdings in Occidental Petroleum were worth $445,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. CapWealth Advisors LLC boosted its position in Occidental Petroleum by 2.7% in the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after purchasing an additional 162 shares during the last quarter. Meeder Advisory Services Inc. boosted its position in Occidental Petroleum by 2.0% in the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock worth $553,000 after purchasing an additional 164 shares during the last quarter. Investment Research & Advisory Group Inc. boosted its position in Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 167 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Occidental Petroleum by 0.8% in the first quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock worth $1,359,000 after purchasing an additional 175 shares during the last quarter. Finally, VisionPoint Advisory Group LLC boosted its position in Occidental Petroleum by 1.2% in the fourth quarter. VisionPoint Advisory Group LLC now owns 14,938 shares of the oil and gas producer’s stock worth $892,000 after purchasing an additional 184 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Occidental Petroleum stock traded down $0.12 during midday trading on Tuesday, reaching $60.06. 1,719,205 shares of the stock were exchanged, compared to its average volume of 7,812,185. The company’s fifty day moving average is $61.52 and its 200-day moving average is $62.09. The firm has a market cap of $53.25 billion, a PE ratio of 16.37 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 company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The business’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 EPS. On average, sell-side analysts forecast that Occidental Petroleum Co. will post 3.66 EPS 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 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 1.47%. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was bought at an average price of $59.75 per share, with a total value of $19,984,044.75. Following the purchase, the insider now owns 255,281,524 shares of the company’s stock, valued at $15,253,071,059. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders acquired 4,656,747 shares of company stock valued at $278,664,028. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Stephens cut their price objective on Occidental Petroleum from $78.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Citigroup decreased their price objective on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Mizuho lifted their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Barclays assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price for the company. Finally, Susquehanna boosted their price target on shares of Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Ten 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $72.31.

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.