Verition Fund Management LLC Sells 28,163 Shares of Occidental Petroleum Co. (NYSE:OXY)

Verition Fund Management LLC decreased its holdings in Occidental Petroleum Co. (NYSE:OXYGet Rating) by 57.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,678 shares of the oil and gas producer’s stock after selling 28,163 shares during the period. Verition Fund Management LLC’s holdings in Occidental Petroleum were worth $1,173,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Addison Advisors LLC grew its holdings in Occidental Petroleum by 407.6% during the 1st quarter. Addison Advisors LLC now owns 533 shares of the oil and gas producer’s stock valued at $30,000 after buying an additional 428 shares in the last quarter. Curi Wealth Management LLC grew its stake in Occidental Petroleum by 3,000.0% during the first 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% in 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 during the last quarter. Interactive Financial Advisors purchased a new stake in Occidental Petroleum in the 1st quarter worth $41,000. Finally, Riverview Trust Co boosted its holdings in shares of 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 purchasing an additional 813 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Occidental Petroleum Trading Down 0.6 %

OXY stock opened at $64.28 on Wednesday. The company has a market capitalization of $60.24 billion, a PE ratio of 6.38, a P/E/G ratio of 0.35 and a beta of 1.83. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.07 and a quick ratio of 0.91. Occidental Petroleum Co. has a 12 month low of $25.07 and a 12 month high of $77.13. The firm’s 50-day moving average is $65.12 and its 200 day moving average is $62.02.

Occidental Petroleum (NYSE:OXYGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The oil and gas producer reported $3.16 earnings per share for the quarter, beating the consensus estimate 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 in the prior year, the firm earned $0.32 earnings per share. On average, research analysts anticipate that Occidental Petroleum Co. will post 11.03 EPS for the current year.

Occidental Petroleum Dividend Announcement

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

Analyst Upgrades and Downgrades

OXY has been the subject of a number of research reports. Bank of America dropped their price target on Occidental Petroleum from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, July 19th. Truist Financial increased their target price on Occidental Petroleum from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, July 19th. Morgan Stanley boosted their price target on shares of Occidental Petroleum from $70.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 6th. Wells Fargo & Company increased their price objective on shares of Occidental Petroleum from $58.00 to $59.00 and gave the company an “underweight” rating in a research report on Thursday, August 4th. Finally, Tudor, Pickering, Holt & Co. downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Friday, August 19th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $71.74.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 2,135,265 shares of the company’s stock in a transaction on Wednesday, June 29th. The shares were bought at an average cost of $59.08 per share, for a total transaction of $126,151,456.20. Following the acquisition, the insider now directly owns 155,643,500 shares in the company, valued at $9,195,417,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Berkshire Hathaway Inc bought 2,135,265 shares of the stock in a transaction on Wednesday, June 29th. The stock was bought at an average price of $59.08 per share, for a total transaction of $126,151,456.20. Following the completion of the acquisition, the insider now directly owns 155,643,500 shares in the company, valued at $9,195,417,980. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $25.25, for a total value of $252,500,000.00. Following the completion of the transaction, the insider now directly owns 190,281,578 shares of the company’s stock, valued at $4,804,609,844.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 23,166,303 shares of company stock worth $1,354,436,524. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Profile

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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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