TCTC Holdings LLC Buys 27,825 Shares of Occidental Petroleum Co. (NYSE:OXY)

TCTC Holdings LLC boosted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 427,907 shares of the oil and gas producer’s stock after purchasing an additional 27,825 shares during the quarter. TCTC Holdings LLC’s holdings in Occidental Petroleum were worth $22,054,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in OXY. American Century Companies Inc. raised its holdings in shares of Occidental Petroleum by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after buying an additional 532,318 shares in the last quarter. Epoch Investment Partners Inc. grew its position in Occidental Petroleum by 20.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock worth $104,707,000 after acquiring an additional 277,462 shares during the last quarter. National Pension Service grew its position in Occidental Petroleum by 9.4% during the 3rd quarter. National Pension Service now owns 1,556,461 shares of the oil and gas producer’s stock worth $80,220,000 after acquiring an additional 133,546 shares during the last quarter. Himalaya Capital Management LLC bought a new position in Occidental Petroleum in the 2nd quarter valued at $92,433,000. Finally, Cooke & Bieler LP boosted its position in Occidental Petroleum by 53.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after buying an additional 503,173 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $50.52 on Friday. Occidental Petroleum Co. has a 12-month low of $49.51 and a 12-month high of $71.18. The firm has a 50-day moving average price of $52.20 and a 200-day moving average price of $58.09. The firm has a market capitalization of $45.75 billion, a PE ratio of 12.44 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last issued 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 firm had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.29 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.74%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 21.67%.

Analysts Set New Price Targets

Several brokerages recently commented on OXY. Stephens reaffirmed an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a research note on Thursday, August 8th. Bank of America assumed coverage on Occidental Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective for the company. Wolfe Research began coverage on Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective for the company. Barclays dropped their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Finally, Mizuho lowered their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.78.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by insiders.

Occidental Petroleum Company 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.