Navellier & Associates Inc. purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY – Get Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 24,101 shares of the oil and gas producer’s stock, valued at approximately $1,419,000.
Several other large investors also recently modified their holdings of the stock. GQG Partners LLC boosted its holdings in Occidental Petroleum by 16.1% in the 1st quarter. GQG Partners LLC now owns 26,669,384 shares of the oil and gas producer’s stock worth $1,512,799,000 after buying an additional 3,690,561 shares during the period. Asia Research & Capital Management Ltd purchased a new position in Occidental Petroleum in the 1st quarter worth $145,651,000. Vanguard Group Inc. raised its position in Occidental Petroleum by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 101,902,647 shares of the oil and gas producer’s stock worth $5,781,956,000 after purchasing an additional 2,385,883 shares during the period. APG Asset Management N.V. raised its position in Occidental Petroleum by 145.6% in the 1st quarter. APG Asset Management N.V. now owns 2,841,537 shares of the oil and gas producer’s stock worth $144,905,000 after purchasing an additional 1,684,588 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Occidental Petroleum by 87.9% in the first quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer’s stock valued at $185,885,000 after acquiring an additional 1,532,100 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Occidental Petroleum from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, November 17th. Mizuho dropped their target price on shares of Occidental Petroleum from $84.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, October 24th. Morgan Stanley dropped their target price on shares of Occidental Petroleum from $76.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 19th. Wells Fargo & Company raised shares of Occidental Petroleum from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $59.00 to $74.00 in a report on Monday, November 14th. Finally, Tudor Pickering cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Friday, August 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $76.11.
Occidental Petroleum Trading Down 2.3 %
Occidental Petroleum Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 12th. Shareholders of record on Monday, December 12th will be paid a $0.13 dividend. The ex-dividend date is Friday, December 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.73%. Occidental Petroleum’s payout ratio is 4.33%.
Insiders Place Their Bets
In other news, major shareholder Berkshire Hathaway Inc purchased 1,737,316 shares of the business’s stock in a transaction dated Wednesday, September 28th. The shares were purchased at an average price of $60.71 per share, for a total transaction of $105,472,454.36. Following the completion of the purchase, the insider now owns 194,351,650 shares in the company, valued at approximately $11,799,088,671.50. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.
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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.
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