Checchi Capital Advisers LLC Acquires 596 Shares of Occidental Petroleum Co. (NYSE:OXY)

Checchi Capital Advisers LLC grew its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 13.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,158 shares of the oil and gas producer’s stock after buying an additional 596 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Occidental Petroleum were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Berkshire Hathaway Inc boosted its stake in shares of Occidental Petroleum by 8.7% during the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock worth $14,552,271,000 after acquiring an additional 19,586,612 shares during the last quarter. Clean Energy Transition LLP purchased a new position in shares of Occidental Petroleum during the 1st quarter valued at about $67,601,000. Sarasin & Partners LLP purchased a new stake in Occidental Petroleum in the 2nd quarter worth approximately $63,880,000. Scharf Investments LLC bought a new position in shares of Occidental Petroleum in the second quarter worth approximately $42,744,000. Finally, TD Asset Management Inc increased its stake in shares of Occidental Petroleum by 237.9% in the fourth quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock worth $45,192,000 after purchasing an additional 532,847 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 524,340 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was acquired at an average price of $59.75 per share, with a total value of $31,329,315.00. Following the completion of the acquisition, the insider now owns 248,542,468 shares in the company, valued at approximately $14,850,412,463. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Berkshire Hathaway Inc bought 524,340 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were purchased at an average price of $59.75 per share, for a total transaction of $31,329,315.00. Following the completion of the transaction, the insider now directly owns 248,542,468 shares in the company, valued at $14,850,412,463. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 4,656,747 shares of company stock valued at $278,664,028. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on OXY shares. Wells Fargo & Company dropped their price target on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. UBS Group lifted their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Wolfe Research assumed coverage on Occidental Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $81.00 target price for the company. Truist Financial decreased their price target on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, Scotiabank decreased their target price on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $71.69.

Occidental Petroleum Price Performance

Shares of OXY opened at $56.78 on Thursday. The stock has a market capitalization of $50.34 billion, a PE ratio of 15.51 and a beta of 1.61. Occidental Petroleum Co. has a fifty-two week low of $55.04 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The company has a 50 day moving average price of $60.08 and a 200-day moving average price of $62.12.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS. Equities analysts predict that Occidental Petroleum Co. will post 3.7 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

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, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.