Carlson Capital L P bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY – Free Report) in the second quarter, Holdings Channel reports. The firm bought 27,000 shares of the oil and gas producer’s stock, valued at approximately $1,588,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Steward Financial Group LLC purchased a new position in Occidental Petroleum in the second quarter valued at about $25,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Occidental Petroleum in the first quarter valued at about $33,000. Resurgent Financial Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $35,000. Strengthening Families & Communities LLC acquired a new stake in Occidental Petroleum in the first quarter valued at approximately $35,000. Finally, Elkhorn Partners Limited Partnership acquired a new position in shares of Occidental Petroleum during the first quarter worth $37,000. Institutional investors and hedge funds own 77.54% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum in a research note on Wednesday, August 16th. Wolfe Research cut Occidental Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Friday, November 10th. Susquehanna raised their price objective on Occidental Petroleum from $72.00 to $78.00 and gave the company a “positive” rating in a research note on Wednesday, October 18th. UBS Group upped their target price on Occidental Petroleum from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 4th. Finally, Bank of America lifted their price target on shares of Occidental Petroleum from $78.00 to $82.00 in a research note on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $71.53.
Occidental Petroleum Stock Performance
OXY traded up $0.65 on Friday, hitting $60.96. 9,185,996 shares of the company’s stock were exchanged, compared to its average volume of 8,505,625. The company has a current ratio of 0.92, a quick ratio of 0.70 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average of $63.29 and a two-hundred day moving average of $61.49. Occidental Petroleum Co. has a twelve month low of $55.51 and a twelve month high of $72.88. The firm has a market cap of $53.67 billion, a PE ratio of 13.34, a P/E/G ratio of 0.67 and a beta of 1.70.
Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.29. The business had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $7.05 billion. Occidental Petroleum had a return on equity of 25.39% and a net margin of 18.26%. The business’s revenue was down 22.1% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. On average, research analysts anticipate that Occidental Petroleum Co. will post 4.12 earnings per share for the current fiscal year.
Occidental Petroleum Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 8th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.18%. Occidental Petroleum’s dividend payout ratio is currently 15.75%.
Insider Buying and Selling
In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of the business’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 transaction, the insider now directly owns 185,181,578 shares of the company’s stock, valued at approximately $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 related news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $25.00, for a total value of $127,500,000.00. Following the sale, the insider now directly owns 185,181,578 shares in the company, valued at approximately $4,629,539,450. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Berkshire Hathaway Inc purchased 1,686,368 shares of Occidental Petroleum stock in a transaction on Monday, October 23rd. The shares were acquired at an average price of $62.80 per share, with a total value of $105,903,910.40. Following the transaction, the insider now directly owns 225,815,560 shares in the company, valued at approximately $14,181,217,168. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.
Occidental Petroleum Company 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.
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