Checchi Capital Advisers LLC trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY – Free Report) by 15.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,268 shares of the oil and gas producer’s stock after selling 963 shares during the period. Checchi Capital Advisers LLC’s holdings in Occidental Petroleum were worth $310,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of OXY. Steward Financial Group LLC bought a new stake in shares of Occidental Petroleum in the second quarter valued at about $25,000. Cyrus J. Lawrence LLC bought a new stake in shares of Occidental Petroleum in the first quarter valued at about $33,000. Resurgent Financial Advisors LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $35,000. Strengthening Families & Communities LLC acquired a new position in Occidental Petroleum in the first quarter worth about $35,000. Finally, Elkhorn Partners Limited Partnership acquired a new position in Occidental Petroleum in the first quarter worth about $37,000. 77.54% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Occidental Petroleum
In other news, major shareholder Berkshire Hathaway Inc purchased 1,686,368 shares of Occidental Petroleum stock in a transaction dated Monday, October 23rd. The shares were bought at an average cost of $62.80 per share, with a total value of $105,903,910.40. Following the completion of the transaction, the insider now directly owns 225,815,560 shares in the company, valued at approximately $14,181,217,168. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of Occidental Petroleum stock in a transaction on 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 transaction, the insider now directly owns 185,181,578 shares of the company’s stock, valued at $4,629,539,450. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Berkshire Hathaway Inc purchased 1,686,368 shares of Occidental Petroleum stock in a transaction dated Monday, October 23rd. The shares were purchased at an average cost of $62.80 per share, for a total transaction of $105,903,910.40. Following the completion of the transaction, the insider now owns 225,815,560 shares of the company’s stock, valued at $14,181,217,168. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.
Occidental Petroleum Price Performance
Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.29. Occidental Petroleum had a net margin of 18.26% and a return on equity of 25.39%. The firm had revenue of $7.40 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period last year, the firm earned $2.44 earnings per share. The business’s revenue for the quarter was down 22.1% on a year-over-year basis. As a group, analysts forecast that Occidental Petroleum Co. will post 4.12 EPS for the current year.
Occidental Petroleum Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 8th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.18%. Occidental Petroleum’s payout ratio is presently 15.75%.
Wall Street Analyst Weigh In
Several research firms recently issued reports on OXY. Susquehanna increased their price target on shares of Occidental Petroleum from $72.00 to $78.00 and gave the stock a “positive” rating in a research report on Wednesday, October 18th. Stephens reissued an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a research report on Thursday, October 12th. Morgan Stanley increased their price target on shares of Occidental Petroleum from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, August 18th. Raymond James dropped their price target on shares of Occidental Petroleum from $80.00 to $75.00 and set a “strong-buy” rating for the company in a research report on Monday, July 24th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $60.00 price objective on shares of Occidental Petroleum in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $71.53.
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.
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