Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC decreased its stake in Occidental Petroleum Co. (NYSE:OXYGet Rating) by 57.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,678 shares of the oil and gas producer’s stock after selling 28,163 shares during the quarter. Verition Fund Management LLC’s holdings in Occidental Petroleum were worth $1,173,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OXY. Vanguard Group Inc. boosted its position in Occidental Petroleum by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 101,902,647 shares of the oil and gas producer’s stock worth $5,781,956,000 after purchasing an additional 2,385,883 shares in the last quarter. GQG Partners LLC boosted its stake in shares of Occidental Petroleum by 16.1% during the 1st quarter. GQG Partners LLC now owns 26,669,384 shares of the oil and gas producer’s stock worth $1,512,799,000 after acquiring an additional 3,690,561 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Occidental Petroleum by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,669,881 shares of the oil and gas producer’s stock valued at $662,225,000 after acquiring an additional 514,934 shares during the period. Laurion Capital Management LP increased its stake in shares of Occidental Petroleum by 152.8% in the 4th quarter. Laurion Capital Management LP now owns 5,080,754 shares of the oil and gas producer’s stock valued at $147,291,000 after purchasing an additional 3,071,233 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Occidental Petroleum by 2.4% during 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 purchasing an additional 118,928 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 0.6 %

OXY opened at $64.28 on Wednesday. The business’s 50 day moving average price is $65.12 and its 200 day moving average price is $62.02. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.91 and a current ratio of 1.07. The stock has a market capitalization of $60.24 billion, a PE ratio of 6.38, a P/E/G ratio of 0.35 and a beta of 1.83. Occidental Petroleum Co. has a one year low of $25.07 and a one year high of $77.13.

Occidental Petroleum (NYSE:OXYGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The oil and gas producer reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.14. Occidental Petroleum had a return on equity of 60.25% and a net margin of 32.25%. During the same quarter in the previous year, the firm posted $0.32 earnings per share. As a group, equities research analysts expect that Occidental Petroleum Co. will post 11.03 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, September 12th will be issued a $0.13 dividend. The ex-dividend date is Friday, September 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.81%. Occidental Petroleum’s dividend payout ratio is currently 5.13%.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc purchased 4,845,546 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were bought at an average cost of $59.01 per share, for a total transaction of $285,935,669.46. Following the completion of the purchase, the insider now directly owns 163,395,275 shares of the company’s stock, valued at $9,641,955,177.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the 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 in the company, valued at approximately $4,804,609,844.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Berkshire Hathaway Inc purchased 4,845,546 shares of the company’s stock in a transaction on Friday, July 1st. The stock was acquired at an average price of $59.01 per share, with a total value of $285,935,669.46. Following the purchase, the insider now owns 163,395,275 shares of the company’s stock, valued at $9,641,955,177.75. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 23,166,303 shares of company stock valued at $1,354,436,524. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OXY. Bank of America reduced their target price on Occidental Petroleum from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, July 19th. Tudor, Pickering, Holt & Co. downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Mizuho reduced their price target on shares of Occidental Petroleum from $89.00 to $84.00 and set a “buy” rating for the company in a research report on Tuesday, July 19th. Societe Generale set a $81.00 price objective on Occidental Petroleum in a report on Monday, June 20th. Finally, Truist Financial boosted their price objective on Occidental Petroleum from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $71.74.

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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