Saxon Interests Inc. grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY – Free Report) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,947 shares of the oil and gas producer’s stock after buying an additional 217 shares during the quarter. Saxon Interests Inc.’s holdings in Occidental Petroleum were worth $350,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Berkshire Hathaway Inc boosted its holdings in shares of Occidental Petroleum by 8.9% during the first quarter. Berkshire Hathaway Inc now owns 211,707,119 shares of the oil and gas producer’s stock worth $13,216,875,000 after purchasing an additional 17,355,469 shares during the period. Moneta Group Investment Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter worth approximately $267,173,000. Renaissance Technologies LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $153,255,000. Fairfax Financial Holdings Ltd. Can increased its stake in shares of Occidental Petroleum by 228.9% during the first quarter. Fairfax Financial Holdings Ltd. Can now owns 3,030,427 shares of the oil and gas producer’s stock valued at $189,159,000 after buying an additional 2,108,927 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Occidental Petroleum by 87.9% during the first quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer’s stock valued at $185,885,000 after acquiring an additional 1,532,100 shares in the last quarter. Hedge funds and other institutional investors own 77.54% of the company’s stock.
Insider Buying and Selling
In other news, major shareholder Berkshire Hathaway Inc purchased 638,301 shares of the stock in a transaction dated Monday, June 26th. The shares were purchased at an average cost of $57.01 per share, with a total value of $36,389,540.01. Following the acquisition, the insider now directly owns 222,629,243 shares of the company’s stock, valued at $12,692,093,143.43. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 185,181,578 shares in the company, valued at $4,629,539,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Berkshire Hathaway Inc purchased 638,301 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were acquired at an average price of $57.01 per share, for a total transaction of $36,389,540.01. Following the purchase, the insider now directly owns 222,629,243 shares in the company, valued at $12,692,093,143.43. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by corporate insiders.
Occidental Petroleum Stock Down 1.2 %
Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the previous year, the company earned $3.16 earnings per share. The company’s revenue for the quarter was down 37.3% compared to the same quarter last year. As a group, equities analysts forecast that Occidental Petroleum Co. will post 3.8 earnings per share for the current fiscal year.
Occidental Petroleum Dividend Announcement
The business 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 dividend on an annualized basis and a yield of 1.10%. Occidental Petroleum’s dividend payout ratio (DPR) is 12.22%.
Analysts Set New Price Targets
A number of research analysts have issued reports on OXY shares. Morgan Stanley boosted their price objective on shares of Occidental Petroleum from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, August 18th. Mizuho increased their price target on shares of Occidental Petroleum from $75.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday. Evercore ISI cut their price objective on Occidental Petroleum from $60.00 to $59.00 in a research report on Monday, July 10th. Roth Mkm reissued a “neutral” rating and issued a $60.00 target price on shares of Occidental Petroleum in a research report on Tuesday, September 12th. Finally, Stephens restated an “overweight” rating and set a $69.00 price target on shares of Occidental Petroleum in a research report on Wednesday, August 16th. 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $69.88.
Occidental Petroleum Profile
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.
- Five stocks we like better than Occidental Petroleum
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Hold-It-Forever AutoZone Pulls into Buy Zone
- Stock Market Sectors: What Are They and How Many Are There?
- Virtual Riches: 3 Stocks Leading the VR Revolution
- Investing In Preferred Stock vs. Common Stock
- 5 eCommerce Companies that need to be on Your Watch List
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.