Capital Investment Advisors LLC Takes Position in Occidental Petroleum Co. (NYSE:OXY)

Capital Investment Advisors LLC acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXYGet Rating) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,559 shares of the oil and gas producer’s stock, valued at approximately $327,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Occidental Petroleum by 2.4% in the first quarter. Vanguard Group Inc. now owns 101,902,647 shares of the oil and gas producer’s stock worth $5,781,956,000 after buying an additional 2,385,883 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Occidental Petroleum by 16.1% in the first quarter. GQG Partners LLC now owns 26,669,384 shares of the oil and gas producer’s stock worth $1,512,799,000 after buying an additional 3,690,561 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Occidental Petroleum by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 11,669,881 shares of the oil and gas producer’s stock worth $662,225,000 after buying an additional 514,934 shares during the last quarter. Laurion Capital Management LP raised its holdings in shares of Occidental Petroleum by 152.8% in the fourth quarter. Laurion Capital Management LP now owns 5,080,754 shares of the oil and gas producer’s stock worth $147,291,000 after buying an additional 3,071,233 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Occidental Petroleum by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,035,799 shares of the oil and gas producer’s stock worth $285,732,000 after buying an additional 118,928 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

OXY opened at $64.41 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.91 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $60.36 billion, a PE ratio of 6.35, a PEG ratio of 0.35 and a beta of 1.83. The firm’s 50-day moving average price is $65.02 and its 200 day moving average price is $61.81. Occidental Petroleum Co. has a twelve month low of $24.96 and a twelve month high of $77.13.

Occidental Petroleum (NYSE:OXYGet Rating) last posted its earnings results on Tuesday, August 2nd. The oil and gas producer reported $3.16 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.14. Occidental Petroleum had a net margin of 32.25% and a return on equity of 60.25%. During the same period last year, the business posted $0.32 EPS. As a group, sell-side analysts expect that Occidental Petroleum Co. will post 11.03 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared 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. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Friday, September 9th. Occidental Petroleum’s dividend payout ratio (DPR) is 5.13%.

Insider Activity

In other news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $25.25, for a total value of $252,500,000.00. Following the sale, the insider now directly owns 190,281,578 shares of the company’s stock, valued at approximately $4,804,609,844.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the company’s stock in a transaction that occurred 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 directly owns 190,281,578 shares of the company’s stock, valued at approximately $4,804,609,844.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Berkshire Hathaway Inc bought 2,135,265 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The shares were acquired at an average cost of $59.08 per share, for a total transaction of $126,151,456.20. Following the completion of the purchase, the insider now owns 155,643,500 shares in the company, valued at $9,195,417,980. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 27,044,561 shares of company stock valued at $1,569,641,061. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

OXY has been the subject of several recent research reports. The Goldman Sachs Group cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a report on Monday, July 11th. Piper Sandler reduced their target price on shares of Occidental Petroleum from $93.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, September 12th. Tudor Pickering cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Societe Generale set a $81.00 price objective on shares of Occidental Petroleum in a report on Monday, June 20th. Finally, Citigroup cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $65.00 to $67.00 in a report on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.74.

Occidental Petroleum Company Profile

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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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