Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by Asset Management Advisors LLC

Asset Management Advisors LLC boosted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 0.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,345 shares of the oil and gas producer’s stock after purchasing an additional 895 shares during the quarter. Occidental Petroleum comprises approximately 4.3% of Asset Management Advisors LLC’s portfolio, making the stock its 8th biggest position. Asset Management Advisors LLC’s holdings in Occidental Petroleum were worth $6,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OXY. WealthPLAN Partners LLC acquired a new position in Occidental Petroleum in the first quarter valued at approximately $806,000. Meeder Advisory Services Inc. boosted its holdings in Occidental Petroleum by 2.0% in the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock valued at $553,000 after purchasing an additional 164 shares in the last quarter. Verus Capital Partners LLC acquired a new position in Occidental Petroleum in the first quarter valued at approximately $257,000. Thoroughbred Financial Services LLC boosted its holdings in shares of Occidental Petroleum by 9.2% in the first quarter. Thoroughbred Financial Services LLC now owns 3,846 shares of the oil and gas producer’s stock valued at $250,000 after acquiring an additional 323 shares during the period. Finally, Inspire Advisors LLC acquired a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $236,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

NYSE:OXY traded down $0.68 during trading hours on Friday, hitting $50.53. The company’s stock had a trading volume of 13,729,906 shares, compared to its average volume of 9,960,915. The business’s 50-day moving average is $52.20 and its two-hundred day moving average is $58.09. The company has a market capitalization of $45.76 billion, a PE ratio of 12.45 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum Co. has a 52-week low of $49.51 and a 52-week 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter last year, the business posted $0.68 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts anticipate that Occidental Petroleum Co. will post 3.29 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 21.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Stephens reissued an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a report on Thursday, August 8th. Wells Fargo & Company decreased their price objective on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Mizuho decreased their price objective on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Barclays decreased their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group assumed coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.78.

Insider Activity

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was 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 in the company, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum 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.