Cooke & Bieler LP Has $124.96 Million Holdings in Occidental Petroleum Corporation $OXY

Cooke & Bieler LP lessened its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 2.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,974,431 shares of the oil and gas producer’s stock after selling 77,282 shares during the quarter. Cooke & Bieler LP owned approximately 0.30% of Occidental Petroleum worth $124,956,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Occidental Petroleum by 17.8% during the first quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock worth $3,960,202,000 after buying an additional 12,107,285 shares during the period. H&H International Investment LLC grew its holdings in Occidental Petroleum by 1.8% during the 1st quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer’s stock worth $682,456,000 after acquiring an additional 249,100 shares during the period. Dimensional Fund Advisors LP grew its holdings in Occidental Petroleum by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock worth $401,162,000 after acquiring an additional 710,220 shares during the period. Northern Trust Corp grew its stake in Occidental Petroleum by 1.6% during the first quarter. Northern Trust Corp now owns 7,175,439 shares of the oil and gas producer’s stock worth $354,180,000 after purchasing an additional 110,378 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Occidental Petroleum by 4.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer’s stock worth $218,799,000 after purchasing an additional 195,742 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Evercore ISI reduced their price objective on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research report on Friday, October 3rd. Melius initiated coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Occidental Petroleum from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company started coverage on Occidental Petroleum in a research note on Friday, October 17th. They issued an “underweight” rating and a $42.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $52.26.

Occidental Petroleum Stock Up 1.3%

Shares of NYSE OXY opened at $41.23 on Friday. The stock has a market capitalization of $40.59 billion, a P/E ratio of 24.40 and a beta of 0.95. The company has a 50-day moving average price of $44.87 and a 200-day moving average price of $43.57. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share. On average, equities research analysts forecast that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

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.