Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in Occidental Petroleum Co. (NYSE:OXY) by 44.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,193 shares of the oil and gas producer’s stock after purchasing an additional 1,610 shares during the period. GAMMA Investing LLC’s holdings in Occidental Petroleum were worth $327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in OXY. Swedbank AB purchased a new stake in Occidental Petroleum in the 1st quarter valued at approximately $12,547,000. Cullen Investment Group LTD. purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $1,006,000. Koshinski Asset Management Inc. lifted its stake in shares of Occidental Petroleum by 53.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock valued at $2,877,000 after buying an additional 16,871 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Occidental Petroleum by 139.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 78,529 shares of the oil and gas producer’s stock valued at $5,104,000 after buying an additional 45,722 shares during the period. Finally, Bridgefront Capital LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $763,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 334,461 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average cost of $59.75 per share, with a total value of $19,984,044.75. Following the purchase, the insider now owns 255,281,524 shares in the company, valued at $15,253,071,059. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders acquired 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Trading Down 2.6 %

Shares of OXY stock traded down $1.50 on Monday, reaching $56.17. The company had a trading volume of 11,716,037 shares, compared to its average volume of 7,922,308. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The stock has a market cap of $49.80 billion, a PE ratio of 15.21 and a beta of 1.61. The company has a 50-day moving average of $61.28 and a 200-day moving average of $62.16. Occidental Petroleum Co. has a 12 month low of $55.04 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. Occidental Petroleum’s revenue was down 17.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 EPS. On average, equities analysts forecast that Occidental Petroleum Co. will post 3.66 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.57%. Occidental Petroleum’s payout ratio is 24.04%.

Analyst Ratings Changes

OXY has been the topic of several recent analyst reports. Susquehanna upped their price objective on shares of Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Wells Fargo & Company cut their price target on shares of Occidental Petroleum from $69.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Wolfe Research assumed coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target on the stock. Barclays assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target on the stock. Finally, Truist Financial cut their price target on shares of Occidental Petroleum from $69.00 to $67.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $72.31.

Occidental Petroleum Company 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, 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.