Trek Financial LLC Boosts Holdings in Occidental Petroleum Co. (NYSE:OXY)

Trek Financial LLC lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 30.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,375 shares of the oil and gas producer’s stock after acquiring an additional 30,528 shares during the quarter. Trek Financial LLC’s holdings in Occidental Petroleum were worth $8,077,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Prospera Financial Services Inc boosted its stake in shares of Occidental Petroleum by 19.3% during the 1st quarter. Prospera Financial Services Inc now owns 7,589 shares of the oil and gas producer’s stock worth $474,000 after acquiring an additional 1,229 shares in the last quarter. Medici Capital LLC purchased a new stake in shares of Occidental Petroleum during the 1st quarter worth about $11,825,000. 1832 Asset Management L.P. boosted its stake in shares of Occidental Petroleum by 623.1% during the 1st quarter. 1832 Asset Management L.P. now owns 353,383 shares of the oil and gas producer’s stock worth $22,062,000 after acquiring an additional 304,512 shares in the last quarter. Callan Family Office LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter worth about $1,601,000. Finally, SVB Wealth LLC raised its position in shares of Occidental Petroleum by 36.8% during the 1st quarter. SVB Wealth LLC now owns 13,092 shares of the oil and gas producer’s stock worth $817,000 after purchasing an additional 3,523 shares during the last quarter. 77.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 260,769 shares of Occidental Petroleum stock in a transaction dated Wednesday, June 28th. The shares were acquired at an average cost of $57.02 per share, for a total transaction of $14,869,048.38. Following the acquisition, the insider now owns 224,129,192 shares of the company’s stock, valued at $12,779,846,527.84. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $65.28 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 52 week low of $55.51 and a 52 week high of $76.11. The stock has a market capitalization of $57.75 billion, a PE ratio of 11.08, a P/E/G ratio of 0.78 and a beta of 1.77. The firm has a 50 day moving average of $62.26 and a two-hundred day moving average of $60.76.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). Occidental Petroleum had a net margin of 21.36% and a return on equity of 31.59%. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.92 billion. During the same period in the prior year, the business earned $3.16 EPS. The business’s quarterly revenue was down 37.3% on a year-over-year basis. On average, research analysts predict that Occidental Petroleum Co. will post 3.81 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 8th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.10%. Occidental Petroleum’s payout ratio is 12.22%.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com assumed coverage on shares of Occidental Petroleum in a report on Saturday, August 19th. They issued a “sell” rating for the company. Stephens reiterated an “overweight” rating and issued a $69.00 price objective on shares of Occidental Petroleum in a report on Wednesday, August 16th. 51job reiterated a “maintains” rating on shares of Occidental Petroleum in a report on Tuesday, June 13th. UBS Group increased their price objective on shares of Occidental Petroleum from $63.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Finally, Piper Sandler raised their price target on shares of Occidental Petroleum from $61.00 to $62.00 in a report on Tuesday, June 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $69.82.

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.