Pacer Advisors Inc. Has $255.08 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Pacer Advisors Inc. decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,338,089 shares of the oil and gas producer’s stock after selling 131,094 shares during the period. Occidental Petroleum accounts for approximately 1.0% of Pacer Advisors Inc.’s holdings, making the stock its 26th biggest holding. Pacer Advisors Inc. owned about 0.49% of Occidental Petroleum worth $255,080,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its position in Occidental Petroleum by 5,000.0% during the 1st quarter. Wolff Wiese Magana LLC now owns 510 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 500 shares in the last quarter. Cyrus J. Lawrence LLC acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth approximately $33,000. Strengthening Families & Communities LLC acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth approximately $35,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $35,000. Finally, Elkhorn Partners Limited Partnership acquired a new position in Occidental Petroleum during the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 77.54% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of research reports. Truist Financial reaffirmed a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum in a research note on Wednesday, August 16th. Roth Mkm reaffirmed a “neutral” rating and issued a $60.00 price target on shares of Occidental Petroleum in a research note on Tuesday, September 12th. Evercore ISI cut their price target on shares of Occidental Petroleum from $60.00 to $59.00 in a research note on Monday, July 10th. Morgan Stanley lifted their price target on shares of Occidental Petroleum from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, August 18th. Finally, StockNews.com initiated coverage on shares of Occidental Petroleum in a research note on Saturday, August 19th. They issued a “sell” rating on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $69.88.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $25.00, for a total transaction of $127,500,000.00. Following the completion of the sale, the insider now owns 185,181,578 shares of the company’s stock, valued at $4,629,539,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $25.00, for a total value of $127,500,000.00. Following the completion of the transaction, the insider now owns 185,181,578 shares of the company’s stock, valued at $4,629,539,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Berkshire Hathaway Inc bought 260,769 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was bought at an average cost of $57.02 per share, with a total value of $14,869,048.38. Following the acquisition, the insider now directly owns 224,129,192 shares of the company’s stock, valued at approximately $12,779,846,527.84. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by company insiders.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded down $0.17 on Tuesday, hitting $66.15. The company had a trading volume of 2,316,956 shares, compared to its average volume of 11,331,158. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.96. The stock has a 50 day moving average price of $62.99 and a 200 day moving average price of $61.03. Occidental Petroleum Co. has a 1-year low of $55.51 and a 1-year high of $76.11. The stock has a market cap of $58.52 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 0.79 and a beta of 1.77.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). Occidental Petroleum had a net margin of 21.36% and a return on equity of 31.59%. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter last year, the company posted $3.16 earnings per share. The company’s revenue was down 37.3% on a year-over-year basis. Analysts expect that Occidental Petroleum Co. will post 3.8 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 8th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.72 annualized dividend and a yield of 1.09%. Occidental Petroleum’s dividend payout ratio is 12.22%.

About Occidental Petroleum

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, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.