Occidental Petroleum Corporation $OXY Shares Bought by Castleark Management LLC

Castleark Management LLC grew its stake in Occidental Petroleum Corporation (NYSE:OXY) by 127.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,585 shares of the oil and gas producer’s stock after purchasing an additional 29,480 shares during the quarter. Castleark Management LLC’s holdings in Occidental Petroleum were worth $3,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Portus Wealth Advisors LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter worth about $29,000. Whipplewood Advisors LLC acquired a new stake in Occidental Petroleum in the 1st quarter worth about $42,000. SJS Investment Consulting Inc. increased its stake in Occidental Petroleum by 148.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 696 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 416 shares in the last quarter. Caitlin John LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $29,000. Finally, Activest Wealth Management lifted its position in shares of Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

NYSE:OXY opened at $54.97 on Tuesday. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The stock has a market cap of $54.68 billion, a PE ratio of 13.85 and a beta of 0.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The stock has a 50 day moving average price of $54.71 and a 200 day moving average price of $53.68.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. Equities research analysts expect that Occidental Petroleum Corporation will post 5.66 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. Occidental Petroleum’s payout ratio is presently 26.20%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Truist Financial lowered their price target on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Scotiabank raised their price objective on Occidental Petroleum from $46.00 to $57.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Morgan Stanley lowered their target price on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 26th. UBS Group dropped their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, The Goldman Sachs Group reduced their target price on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Ten analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $64.17.

Insider Activity

In other news, CEO Richard A. Jackson acquired 4,770 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.