Dimensional Fund Advisors LP Sells 588,568 Shares of Occidental Petroleum Corporation $OXY

Dimensional Fund Advisors LP decreased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 5.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,014,092 shares of the oil and gas producer’s stock after selling 588,568 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Occidental Petroleum were worth $651,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Woodline Partners LP boosted its stake in Occidental Petroleum by 40.7% during the first quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after acquiring an additional 16,506 shares in the last quarter. Marshall Wace LLP acquired a new stake in Occidental Petroleum in the second quarter worth $4,584,000. Federated Hermes Inc. increased its stake in Occidental Petroleum by 696.7% in the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock valued at $1,008,000 after purchasing an additional 20,985 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Occidental Petroleum by 7.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock worth $4,443,000 after buying an additional 7,285 shares during the period. Finally, AXA S.A. raised its position in shares of Occidental Petroleum by 24.3% during the second quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock worth $5,740,000 after purchasing an additional 26,741 shares during the period. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $54.89 on Monday. The company’s fifty day moving average is $54.80 and its 200 day moving average is $53.04. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The stock has a market cap of $54.60 billion, a PE ratio of 13.83 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the company posted $0.14 earnings per share. The business’s revenue was down 8.3% on a year-over-year basis. Research analysts anticipate that Occidental Petroleum Corporation will post 5.66 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.9%. Occidental Petroleum’s dividend payout ratio is presently 26.20%.

Wall Street Analyst Weigh In

OXY has been the topic of several recent research reports. BMO Capital Markets raised their price target on shares of Occidental Petroleum from $60.00 to $65.00 and gave the company a “market perform” rating in a research report on Tuesday, April 7th. Zacks Research lowered shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Susquehanna raised their target price on Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. cut their target price on shares of Occidental Petroleum from $64.00 to $63.00 in a research report on Thursday, May 7th. Finally, Truist Financial decreased their price target on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.17.

Insider Buying and Selling

In other Occidental Petroleum news, CEO Richard A. Jackson purchased 4,770 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. The trade was a 1.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

Occidental Petroleum Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.