Canada Pension Plan Investment Board Purchases 21,462 Shares of Occidental Petroleum Co. (NYSE:OXY)

Canada Pension Plan Investment Board raised its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 48.0% in the second quarter, HoldingsChannel reports. The firm owned 66,216 shares of the oil and gas producer’s stock after buying an additional 21,462 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Occidental Petroleum were worth $4,174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. CapWealth Advisors LLC boosted its holdings in shares of Occidental Petroleum by 2.7% in the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after buying an additional 162 shares during the last quarter. Meeder Advisory Services Inc. boosted its stake in shares of Occidental Petroleum by 2.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock worth $553,000 after acquiring an additional 164 shares during the last quarter. Investment Research & Advisory Group Inc. grew its position in shares of Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 167 shares during the period. Earnest Partners LLC increased its stake in shares of Occidental Petroleum by 2.6% in the 1st quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after purchasing an additional 173 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in Occidental Petroleum by 0.8% in the 1st quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock worth $1,359,000 after purchasing an additional 175 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Down 2.4 %

Shares of OXY stock opened at $51.12 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $45.32 billion, a price-to-earnings ratio of 13.97 and a beta of 1.58. Occidental Petroleum Co. has a 12-month low of $49.90 and a 12-month high of $71.18. The stock’s 50-day moving average price is $56.52 and its 200-day moving average price is $61.14.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. Equities research analysts predict that Occidental Petroleum Co. will post 3.57 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.72%. Occidental Petroleum’s payout ratio is currently 24.04%.

Wall Street Analyst Weigh In

OXY has been the subject of several recent research reports. Scotiabank cut their price target on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Mizuho cut their price objective on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company lowered their price target on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Truist Financial dropped their price target on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Finally, Stephens restated an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $71.60.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

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.