Capital Investment Advisors LLC Takes Position in Occidental Petroleum Co. (NYSE:OXY)

Capital Investment Advisors LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXYGet Rating) in the second quarter, Holdings Channel.com reports. The fund purchased 5,559 shares of the oil and gas producer’s stock, valued at approximately $327,000.

A number of other large investors have also made changes to their positions in OXY. Addison Advisors LLC increased its holdings in shares of Occidental Petroleum by 407.6% in the 1st quarter. Addison Advisors LLC now owns 533 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 428 shares in the last quarter. Curi Wealth Management LLC increased its holdings in Occidental Petroleum by 3,000.0% during the 1st quarter. Curi Wealth Management LLC now owns 620 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 600 shares in the last quarter. Point72 Hong Kong Ltd increased its holdings in Occidental Petroleum by 111.9% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,415 shares of the oil and gas producer’s stock valued at $41,000 after acquiring an additional 13,315 shares in the last quarter. Interactive Financial Advisors purchased a new position in Occidental Petroleum during the 1st quarter valued at about $41,000. Finally, Riverview Trust Co increased its holdings in Occidental Petroleum by 498.8% during the 1st quarter. Riverview Trust Co now owns 976 shares of the oil and gas producer’s stock valued at $55,000 after acquiring an additional 813 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OXY. Bank of America dropped their target price on shares of Occidental Petroleum from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday, July 19th. Tudor, Pickering, Holt & Co. cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. Truist Financial raised their price target on shares of Occidental Petroleum from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, July 19th. Wells Fargo & Company raised their price target on shares of Occidental Petroleum from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Thursday, August 4th. Finally, Barclays decreased their price target on shares of Occidental Petroleum from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $71.74.

Occidental Petroleum Trading Down 1.0 %

NYSE OXY opened at $64.41 on Monday. Occidental Petroleum Co. has a one year low of $24.96 and a one year high of $77.13. The company’s 50 day moving average price is $65.02 and its 200 day moving average price is $61.81. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.91 and a current ratio of 1.07. The firm has a market capitalization of $60.36 billion, a price-to-earnings ratio of 6.35, a PEG ratio of 0.35 and a beta of 1.83.

Occidental Petroleum (NYSE:OXYGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.14. Occidental Petroleum had a net margin of 32.25% and a return on equity of 60.25%. During the same quarter last year, the company earned $0.32 EPS. On average, sell-side analysts predict that Occidental Petroleum Co. will post 11.03 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, September 12th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, September 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.81%. Occidental Petroleum’s dividend payout ratio is currently 5.13%.

Insider Activity

In other news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of Occidental Petroleum stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $25.25, for a total transaction of $252,500,000.00. Following the sale, the insider now owns 190,281,578 shares in the company, valued at $4,804,609,844.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Berkshire Hathaway Inc purchased 2,135,265 shares of the company’s stock in a transaction that occurred on Wednesday, June 29th. The stock was acquired at an average price of $59.08 per share, for a total transaction of $126,151,456.20. Following the completion of the purchase, the insider now owns 155,643,500 shares in the company, valued at $9,195,417,980. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of Occidental Petroleum stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $25.25, for a total transaction of $252,500,000.00. Following the completion of the sale, the insider now owns 190,281,578 shares of the company’s stock, valued at approximately $4,804,609,844.50. The disclosure for this sale can be found here. Insiders have bought 27,044,561 shares of company stock worth $1,569,641,061 over the last 90 days. Company insiders own 0.31% of the company’s stock.

About Occidental Petroleum

(Get Rating)

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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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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