Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Carnegie Investment Counsel

Carnegie Investment Counsel increased its stake in Occidental Petroleum Co. (NYSE:OXY) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,736 shares of the oil and gas producer’s stock after acquiring an additional 1,121 shares during the period. Carnegie Investment Counsel’s holdings in Occidental Petroleum were worth $2,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB purchased a new position in shares of Occidental Petroleum in the 1st quarter valued at about $12,547,000. Allspring Global Investments Holdings LLC increased its position in shares of Occidental Petroleum by 139.4% in the 1st 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 purchasing an additional 45,722 shares during the last quarter. Bridgefront Capital LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at $763,000. Alberta Investment Management Corp lifted its position in shares of Occidental Petroleum by 143.2% during the 4th quarter. Alberta Investment Management Corp now owns 36,475 shares of the oil and gas producer’s stock worth $2,178,000 after purchasing an additional 21,475 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Occidental Petroleum by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 904,081 shares of the oil and gas producer’s stock worth $58,757,000 after purchasing an additional 8,863 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 765,899 shares of Occidental Petroleum stock in a transaction on Wednesday, June 12th. The shares were bought at an average price of $60.28 per share, with a total value of $46,168,391.72. Following the completion of the acquisition, the insider now directly owns 252,333,913 shares of the company’s stock, valued at $15,210,688,275.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Berkshire Hathaway Inc bought 765,899 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were purchased at an average price of $60.28 per share, for a total transaction of $46,168,391.72. Following the transaction, the insider now owns 252,333,913 shares of the company’s stock, valued at approximately $15,210,688,275.64. The disclosure for this purchase can be found here. In the last three months, insiders acquired 4,656,747 shares of company stock worth $278,664,028. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

OXY has been the subject of a number of recent analyst reports. UBS Group lifted their price target on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday. Scotiabank lowered their price target on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Wolfe Research began coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective on the stock. Citigroup lowered their target price on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Finally, Mizuho lifted their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.69.

Occidental Petroleum Price Performance

Shares of NYSE OXY traded down $0.93 during trading on Tuesday, hitting $56.46. 10,357,995 shares of the company were exchanged, compared to its average volume of 8,189,679. The firm’s fifty day moving average price is $60.52 and its 200 day moving average price is $62.15. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The company has a market cap of $50.06 billion, a price-to-earnings ratio of 15.43 and a beta of 1.61. Occidental Petroleum Co. has a 1 year low of $55.04 and a 1 year high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 EPS. On average, sell-side analysts expect that Occidental Petroleum Co. will post 3.7 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a $0.22 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.56%. Occidental Petroleum’s dividend payout ratio is presently 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.