Proficio Capital Partners LLC Has $1.36 Million Position in Occidental Petroleum Co. (NYSE:OXY)

Proficio Capital Partners LLC raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 0.8% in the first quarter, Holdings Channel.com reports. The fund owned 20,911 shares of the oil and gas producer’s stock after acquiring an additional 175 shares during the quarter. Proficio Capital Partners LLC’s holdings in Occidental Petroleum were worth $1,359,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in OXY. AQR Capital Management LLC lifted its stake in shares of Occidental Petroleum by 3.9% in the 3rd quarter. AQR Capital Management LLC now owns 111,118 shares of the oil and gas producer’s stock valued at $7,209,000 after purchasing an additional 4,164 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Occidental Petroleum by 3.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 11,533 shares of the oil and gas producer’s stock valued at $748,000 after acquiring an additional 406 shares during the last quarter. Lido Advisors LLC raised its stake in shares of Occidental Petroleum by 6.4% in the 3rd quarter. Lido Advisors LLC now owns 18,340 shares of the oil and gas producer’s stock valued at $1,190,000 after acquiring an additional 1,099 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Occidental Petroleum by 15.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 52,683 shares of the oil and gas producer’s stock worth $3,418,000 after purchasing an additional 7,233 shares during the last quarter. Finally, Advisors Capital Management LLC bought a new stake in Occidental Petroleum during the third quarter worth approximately $1,990,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Performance

OXY stock traded up $0.08 during midday trading on Tuesday, hitting $61.03. The stock had a trading volume of 5,501,044 shares, compared to its average volume of 7,953,952. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18. 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 50-day simple moving average of $62.18 and a 200 day simple moving average of $61.88. The firm has a market capitalization of $54.11 billion, a price-to-earnings ratio of 16.67 and a beta of 1.61.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The firm’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period last year, the firm earned $1.09 EPS. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 3.88 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.44%. Occidental Petroleum’s payout ratio is presently 24.04%.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 765,899 shares of the stock in a transaction on Wednesday, June 12th. The shares were purchased at an average cost of $60.28 per share, for a total transaction of $46,168,391.72. Following the completion of the transaction, the insider now directly owns 252,333,913 shares of the company’s stock, valued at approximately $15,210,688,275.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders purchased 4,656,747 shares of company stock worth $278,664,028 in the last 90 days. 0.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

OXY has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Truist Financial lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and cut their target price for the stock from $84.00 to $69.00 in a research report on Thursday, May 16th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Finally, Citigroup lowered their target price on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Eleven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.56.

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.