Price T Rowe Associates Inc. MD Has $60.24 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Price T Rowe Associates Inc. MD lowered its holdings in shares of Occidental Petroleum Co. (NYSE:OXY – Get Rating) by 61.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 980,322 shares of the oil and gas producer’s stock after selling 1,571,220 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Occidental Petroleum were worth $60,242,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Poehling Capital Management INC. boosted its stake in shares of Occidental Petroleum by 25.1% during the 3rd quarter. Poehling Capital Management INC. now owns 100,727 shares of the oil and gas producer’s stock worth $6,190,000 after acquiring an additional 20,230 shares during the period. Quantamental Technologies LLC raised its position in shares of Occidental Petroleum by 160.2% in the third quarter. Quantamental Technologies LLC now owns 24,667 shares of the oil and gas producer’s stock valued at $1,516,000 after purchasing an additional 15,188 shares during the period. KLCM Advisors Inc. boosted its holdings in shares of Occidental Petroleum by 26.5% during the 3rd quarter. KLCM Advisors Inc. now owns 4,779 shares of the oil and gas producer’s stock worth $294,000 after buying an additional 1,000 shares during the period. Lord Abbett & CO. LLC bought a new position in Occidental Petroleum in the 3rd quarter valued at about $28,893,000. Finally, Laidlaw Wealth Management LLC raised its holdings in Occidental Petroleum by 49.0% in the 3rd quarter. Laidlaw Wealth Management LLC now owns 5,157 shares of the oil and gas producer’s stock valued at $317,000 after acquiring an additional 1,697 shares during the period. Institutional investors and hedge funds own 78.45% of the company’s stock.

Occidental Petroleum Stock Down 1.2 %

Shares of NYSE:OXY opened at $59.15 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 1.15. Occidental Petroleum Co. has a 52-week low of $51.53 and a 52-week high of $77.13. The business’s 50 day simple moving average is $62.80 and its two-hundred day simple moving average is $65.71. The firm has a market cap of $53.24 billion, a P/E ratio of 4.78, a PEG ratio of 0.43 and a beta of 1.77.

Occidental Petroleum (NYSE:OXY – Get Rating) last issued its earnings results on Monday, February 27th. The oil and gas producer reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.22). The firm had revenue of $8.22 billion during the quarter, compared to the consensus estimate of $8.21 billion. Occidental Petroleum had a return on equity of 52.68% and a net margin of 35.87%. Occidental Petroleum’s revenue for the quarter was up 97.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 earnings per share. As a group, research analysts forecast that Occidental Petroleum Co. will post 6.33 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 10th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, March 9th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.13. Occidental Petroleum’s dividend payout ratio is currently 5.82%.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 2,363,088 shares of the stock in a transaction dated Friday, March 3rd. The stock was purchased at an average cost of $60.85 per share, with a total value of $143,793,904.80. Following the completion of the purchase, the insider now directly owns 196,714,738 shares in the company, valued at approximately $11,970,091,807.30. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on OXY. Wells Fargo & Company decreased their target price on Occidental Petroleum from $67.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 1st. Evercore ISI cut Occidental Petroleum from an “in-line” rating to an “underperform” rating and lowered their price objective for the stock from $74.00 to $60.00 in a research report on Wednesday, February 22nd. The Goldman Sachs Group raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Tuesday, February 14th. Citigroup raised their price target on shares of Occidental Petroleum from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, November 17th. Finally, Bank of America raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Friday, January 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $75.72.

About Occidental Petroleum

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Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.