Brookstone Capital Management Sells 758 Shares of Occidental Petroleum Co. (NYSE:OXY)

Brookstone Capital Management reduced its stake in Occidental Petroleum Co. (NYSE:OXYGet Rating) by 6.5% during the second quarter, Holdings Channel.com reports. The fund owned 10,941 shares of the oil and gas producer’s stock after selling 758 shares during the quarter. Brookstone Capital Management’s holdings in Occidental Petroleum were worth $664,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Addison Advisors LLC grew its stake in Occidental Petroleum by 407.6% in the 1st quarter. Addison Advisors LLC now owns 533 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 428 shares in the last quarter. Curi Wealth Management LLC grew its stake in Occidental Petroleum by 3,000.0% in the 1st quarter. Curi Wealth Management LLC now owns 620 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 600 shares in the last quarter. Interactive Financial Advisors bought a new position in Occidental Petroleum in the 1st quarter worth about $41,000. Worth Asset Management LLC bought a new position in Occidental Petroleum in the 1st quarter worth about $58,000. Finally, Riverview Trust Co grew its stake in Occidental Petroleum by 498.8% in the 1st quarter. Riverview Trust Co now owns 976 shares of the oil and gas producer’s stock worth $55,000 after acquiring an additional 813 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Down 1.3 %

NYSE:OXY opened at $61.88 on Friday. The firm has a market capitalization of $57.99 billion, a P/E ratio of 6.10, a PEG ratio of 0.38 and a beta of 1.83. Occidental Petroleum Co. has a 1-year low of $26.05 and a 1-year high of $77.13. The company’s fifty day moving average price is $65.44 and its 200-day moving average price is $62.08. 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 (NYSE:OXYGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The oil and gas producer reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.23. The firm had revenue of $10.74 billion for the quarter, compared to analyst estimates of $9.74 billion. 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 business earned $0.32 earnings per share. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 11.01 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm 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 $0.13 dividend. The ex-dividend date of this dividend is Friday, September 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.84%. Occidental Petroleum’s payout ratio is currently 5.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Occidental Petroleum from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, July 19th. Citigroup cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and upped their price target for the stock from $65.00 to $67.00 in a research report on Monday, September 12th. Tudor Pickering cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Wells Fargo & Company upped their price target on shares of Occidental Petroleum from $58.00 to $59.00 and gave the stock an “underweight” rating in a research report on Thursday, August 4th. Finally, Societe Generale set a $81.00 price target on shares of Occidental Petroleum in a research report on Monday, June 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $71.74.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the firm’s stock in a transaction 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 document filed with the SEC, which can be accessed through this link. In other news, major shareholder Berkshire Hathaway Inc purchased 8,174,228 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were bought at an average price of $57.94 per share, for a total transaction of $473,614,770.32. Following the completion of the transaction, the insider now owns 171,569,503 shares in the company, valued at $9,940,737,003.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the firm’s stock in a transaction 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 approximately $4,804,609,844.50. The disclosure for this sale can be found here. Insiders have acquired 23,166,303 shares of company stock worth $1,354,436,524 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

About Occidental Petroleum

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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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