SignalPoint Asset Management LLC Makes New $513,000 Investment in Occidental Petroleum Co. (NYSE:OXY)

SignalPoint Asset Management LLC purchased a new position in Occidental Petroleum Co. (NYSE:OXYGet Rating) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,050 shares of the oil and gas producer’s stock, valued at approximately $513,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Addison Advisors LLC boosted its stake in shares of Occidental Petroleum by 407.6% in the 1st quarter. Addison Advisors LLC now owns 533 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 428 shares in the last quarter. Curi Wealth Management LLC raised its holdings in Occidental Petroleum by 3,000.0% during the 1st quarter. Curi Wealth Management LLC now owns 620 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 600 shares during the last quarter. Riverview Trust Co raised its holdings in Occidental Petroleum by 498.8% during the 1st quarter. Riverview Trust Co now owns 976 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 813 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in Occidental Petroleum during the 1st quarter valued at $238,000. Finally, Point72 Hong Kong Ltd raised its holdings in Occidental Petroleum by 111.9% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,415 shares of the oil and gas producer’s stock valued at $41,000 after buying an additional 13,315 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 190,281,578 shares in the company, valued at $4,804,609,844.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $25.25, for a total value of $252,500,000.00. Following the sale, the insider now owns 190,281,578 shares in the company, valued at $4,804,609,844.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christopher O. Champion sold 111,594 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $70.44, for a total value of $7,860,681.36. Following the completion of the sale, the chief accounting officer now owns 38,303 shares in the company, valued at approximately $2,698,063.32. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 28,606,136 shares of company stock worth $1,642,276,766. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OXY. Barclays upped their price objective on shares of Occidental Petroleum from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, June 14th. The Goldman Sachs Group lowered shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a report on Monday, July 11th. Susquehanna increased their price target on shares of Occidental Petroleum from $71.00 to $73.00 in a research note on Thursday, May 12th. StockNews.com lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Piper Sandler increased their price target on shares of Occidental Petroleum from $88.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.58.

Occidental Petroleum Stock Up 2.7 %

Shares of OXY stock traded up $1.55 on Friday, hitting $59.01. The stock had a trading volume of 20,987,457 shares, compared to its average volume of 20,811,820. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 1.20. The business has a 50 day moving average price of $61.83 and a 200 day moving average price of $55.76. The company has a market cap of $55.30 billion, a PE ratio of 5.82, a P/E/G ratio of 0.35 and a beta of 1.88. Occidental Petroleum Co. has a one year low of $21.62 and a one year high of $74.04.

Occidental Petroleum (NYSE:OXYGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The oil and gas producer reported $3.16 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $0.32 earnings per share. Research analysts anticipate that Occidental Petroleum Co. will post 10.56 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders 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 dividend on an annualized basis and a yield of 0.88%. Occidental Petroleum’s dividend payout ratio is presently 5.13%.

Occidental Petroleum 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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