D L Carlson Investment Group Inc. Cuts Stock Position in Occidental Petroleum Co. (NYSE:OXY)

D L Carlson Investment Group Inc. trimmed its position in Occidental Petroleum Co. (NYSE:OXY) by 13.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,352 shares of the oil and gas producer’s stock after selling 7,094 shares during the period. D L Carlson Investment Group Inc.’s holdings in Occidental Petroleum were worth $2,894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of OXY. Berkshire Hathaway Inc raised its stake in Occidental Petroleum by 8.9% in the first quarter. Berkshire Hathaway Inc now owns 211,707,119 shares of the oil and gas producer’s stock valued at $13,216,875,000 after buying an additional 17,355,469 shares during the last quarter. 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. Moneta Group Investment Advisors LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth $267,173,000. First Trust Advisors LP lifted its position in Occidental Petroleum by 87.9% during the 1st quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer’s stock worth $185,885,000 after acquiring an additional 1,532,100 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in shares of Occidental Petroleum by 96.7% in the fourth quarter. Point72 Asset Management L.P. now owns 3,094,009 shares of the oil and gas producer’s stock valued at $194,892,000 after purchasing an additional 1,521,409 shares during the period. 77.54% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Up 4.1 %

NYSE OXY opened at $66.43 on Wednesday. Occidental Petroleum Co. has a one year low of $55.51 and a one year high of $76.11. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.73 and a current ratio of 1.00. The business has a fifty day moving average price of $62.50 and a 200 day moving average price of $60.87. The company has a market cap of $58.77 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.77 and a beta of 1.77.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.02). Occidental Petroleum had a return on equity of 31.59% and a net margin of 21.36%. 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 posted $3.16 earnings per share. The business’s quarterly revenue was down 37.3% on a year-over-year basis. Research analysts anticipate that Occidental Petroleum Co. will post 3.81 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors 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 annualized dividend and a dividend yield of 1.08%. Occidental Petroleum’s dividend payout ratio is presently 12.22%.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc bought 260,769 shares of the company’s stock in a transaction on Wednesday, June 28th. The stock was bought at an average cost of $57.02 per share, for a total transaction of $14,869,048.38. Following the acquisition, the insider now directly owns 224,129,192 shares in the company, valued at $12,779,846,527.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Occidental Petroleum in a report on Saturday, August 19th. They issued a “sell” rating on the stock. Roth Mkm reissued a “neutral” rating and set a $60.00 target price on shares of Occidental Petroleum in a report on Tuesday. UBS Group increased their price target on Occidental Petroleum from $63.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Mizuho upped their target price on Occidental Petroleum from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Finally, Stephens restated an “overweight” rating and issued a $69.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, August 16th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $69.82.

Occidental Petroleum Profile

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.