State of Alaska Department of Revenue Decreases Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

State of Alaska Department of Revenue lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXYGet Rating) by 27.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,853 shares of the oil and gas producer’s stock after selling 47,638 shares during the period. State of Alaska Department of Revenue’s holdings in Occidental Petroleum were worth $7,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC boosted its holdings in Occidental Petroleum by 407.6% during the first quarter. Addison Advisors LLC now owns 533 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 428 shares in the last quarter. Curi Wealth Management LLC raised its position in Occidental Petroleum by 3,000.0% during the first quarter. Curi Wealth Management LLC now owns 620 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 600 shares during the last quarter. Interactive Financial Advisors acquired a new position in Occidental Petroleum during the first quarter worth about $41,000. Worth Asset Management LLC acquired a new position in Occidental Petroleum during the first quarter worth about $58,000. Finally, Riverview Trust Co raised its position in Occidental Petroleum by 498.8% during the first quarter. Riverview Trust Co now owns 976 shares of the oil and gas producer’s stock worth $55,000 after acquiring an additional 813 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OXY. Wells Fargo & Company boosted their price objective on shares of Occidental Petroleum from $58.00 to $59.00 and gave the company an “underweight” rating in a research report on Thursday, August 4th. Bank of America lowered their target price on shares of Occidental Petroleum from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday, July 19th. Societe Generale set a $81.00 target price on shares of Occidental Petroleum in a report on Monday, June 20th. Piper Sandler lowered 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. Finally, StockNews.com downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.74.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc bought 65,199 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The stock was bought at an average cost of $56.94 per share, for a total transaction of $3,712,431.06. Following the transaction, the insider now owns 179,741,891 shares of the company’s stock, valued at $10,234,503,273.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Berkshire Hathaway Inc bought 65,199 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The stock was bought at an average cost of $56.94 per share, for a total transaction of $3,712,431.06. Following the transaction, the insider now owns 179,741,891 shares of the company’s stock, valued at $10,234,503,273.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the business’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $25.25, for a total value of $252,500,000.00. Following the transaction, the insider now owns 190,281,578 shares of the company’s stock, valued at $4,804,609,844.50. The disclosure for this sale can be found here. Insiders bought a total of 27,044,561 shares of company stock worth $1,569,641,061 over the last three months. 0.31% of the stock is currently owned by company insiders.

Occidental Petroleum Trading Up 0.4 %

Shares of OXY stock opened at $64.68 on Tuesday. Occidental Petroleum Co. has a 12 month low of $24.96 and a 12 month high of $77.13. The company has a quick ratio of 0.91, a current ratio of 1.07 and a debt-to-equity ratio of 1.20. The business’s 50 day moving average is $65.02 and its two-hundred day moving average is $61.90. The company has a market cap of $60.62 billion, a PE ratio of 6.38, a price-to-earnings-growth ratio of 0.35 and a beta of 1.83.

Occidental Petroleum (NYSE:OXYGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, topping 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 in the prior year, the business earned $0.32 EPS. Equities analysts predict that Occidental Petroleum Co. will post 11.03 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, September 12th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, September 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.80%. Occidental Petroleum’s payout ratio is 5.13%.

Occidental Petroleum Company Profile

(Get Rating)

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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