Wellington Management Group LLP Raises Stock Position in Occidental Petroleum Corporation $OXY

Wellington Management Group LLP lifted its stake in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 18.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 127,877 shares of the oil and gas producer's stock after buying an additional 19,645 shares during the quarter. Wellington Management Group LLP's holdings in Occidental Petroleum were worth $6,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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Several other large investors have also bought and sold shares of OXY. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Occidental Petroleum during the 1st quarter valued at about $1,274,000. Kestra Private Wealth Services LLC raised its stake in Occidental Petroleum by 5.6% during the first quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer's stock valued at $843,000 after buying an additional 906 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Occidental Petroleum by 9.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer's stock worth $78,813,000 after acquiring an additional 140,528 shares in the last quarter. Northern Trust Corp grew its stake in shares of Occidental Petroleum by 7.5% in the fourth quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock worth $349,085,000 after acquiring an additional 491,797 shares during the last quarter. Finally, swisspartners Advisors Ltd purchased a new position in shares of Occidental Petroleum in the 1st quarter worth about $6,006,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Trading Up 1.4%

NYSE:OXY opened at $47.53 on Friday. The company has a market cap of $46.79 billion, a PE ratio of 28.12 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The company has a 50 day simple moving average of $44.26 and a two-hundred day simple moving average of $44.07. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $57.57.

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Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same period last year, the business posted $1.03 EPS. The company's revenue for the quarter was down 6.1% on a year-over-year basis. Research analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum's payout ratio is currently 56.80%.

Wall Street Analysts Forecast Growth

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OXY has been the topic of several recent analyst reports. Piper Sandler increased their price objective on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Melius Research assumed coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a "hold" rating and a $64.00 price target on the stock. Melius initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They set a "hold" rating and a $64.00 price target for the company. Scotiabank upped their price objective on Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Finally, Barclays lifted their target price on Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Four analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $54.65.

View Our Latest Analysis on Occidental Petroleum

Occidental Petroleum Company 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.

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