State of Alaska Department of Revenue Has $7.53 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

State of Alaska Department of Revenue reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXYGet Rating) by 27.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 127,853 shares of the oil and gas producer’s stock after selling 47,638 shares during the quarter. State of Alaska Department of Revenue’s holdings in Occidental Petroleum were worth $7,527,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Addison Advisors LLC lifted its position in shares of Occidental Petroleum by 407.6% during the 1st quarter. Addison Advisors LLC now owns 533 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 428 shares during the last quarter. Curi Wealth Management LLC raised its position in Occidental Petroleum by 3,000.0% in the first quarter. Curi Wealth Management LLC now owns 620 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 600 shares during the last quarter. Interactive Financial Advisors bought a new position in Occidental Petroleum in the first quarter valued at about $41,000. Worth Asset Management LLC bought a new position in Occidental Petroleum in the first quarter valued at about $58,000. Finally, Riverview Trust Co raised its position in Occidental Petroleum by 498.8% in the first quarter. Riverview Trust Co now owns 976 shares of the oil and gas producer’s stock valued at $55,000 after purchasing an additional 813 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc acquired 538,020 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was acquired at an average price of $59.67 per share, with a total value of $32,103,653.40. Following the completion of the purchase, the insider now directly owns 188,366,460 shares in the company, valued at $11,239,826,668.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Berkshire Hathaway Inc purchased 538,020 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was purchased at an average price of $59.67 per share, with a total value of $32,103,653.40. Following the completion of the purchase, the insider now owns 188,366,460 shares of the company’s stock, valued at approximately $11,239,826,668.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 directly 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. Over the last quarter, insiders purchased 27,044,561 shares of company stock worth $1,569,641,061. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $64.68 on Tuesday. 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 stock’s fifty day moving average is $65.02 and its 200 day moving average is $61.90. The stock has a market cap of $60.62 billion, a P/E ratio of 6.38, a P/E/G ratio of 0.35 and a beta of 1.83. Occidental Petroleum Co. has a one year low of $24.96 and a one year high of $77.13.

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

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, September 12th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, September 9th. This represents a $0.52 annualized dividend and a yield of 0.80%. Occidental Petroleum’s dividend payout ratio is currently 5.13%.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research reports. StockNews.com downgraded Occidental Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Tudor, Pickering, Holt & Co. cut Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. MKM Partners restated a “neutral” rating and issued a $65.00 target price on shares of Occidental Petroleum in a report on Wednesday, July 20th. Wells Fargo & Company raised their target price on Occidental Petroleum from $58.00 to $59.00 and gave the company an “underweight” rating in a report on Thursday, August 4th. Finally, Citigroup lowered Occidental Petroleum from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $65.00 to $67.00 in a report on Monday, September 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $71.74.

Occidental Petroleum Profile

(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.

Further Reading

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

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