Occidental Petroleum Co. (NYSE:OXY) Shares Sold by CapWealth Advisors LLC

CapWealth Advisors LLC trimmed its position in Occidental Petroleum Co. (NYSE:OXY) by 16.4% in the second quarter, Holdings Channel.com reports. The fund owned 5,106 shares of the oil and gas producer’s stock after selling 999 shares during the period. CapWealth Advisors LLC’s holdings in Occidental Petroleum were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Berkshire Hathaway Inc increased its holdings in shares of Occidental Petroleum by 8.7% in the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after acquiring an additional 19,586,612 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Occidental Petroleum by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer’s stock valued at $220,910,000 after acquiring an additional 82,360 shares during the last quarter. Cooke & Bieler LP increased its holdings in shares of Occidental Petroleum by 53.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after acquiring an additional 503,173 shares during the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of Occidental Petroleum by 52.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer’s stock valued at $83,568,000 after acquiring an additional 483,422 shares during the last quarter. Finally, National Pension Service grew its stake in Occidental Petroleum by 2.7% during the 4th quarter. National Pension Service now owns 1,342,292 shares of the oil and gas producer’s stock worth $80,148,000 after buying an additional 34,786 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Down 1.6 %

OXY stock opened at $53.74 on Friday. The company’s 50 day simple moving average is $59.18 and its 200-day simple moving average is $61.94. Occidental Petroleum Co. has a 52-week low of $53.60 and a 52-week high of $71.18. 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 firm has a market capitalization of $48.67 billion, a P/E ratio of 14.68 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last issued 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. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. Occidental Petroleum’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 3.69 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wolfe Research assumed coverage on Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective for the company. Stephens restated an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a research note on Thursday, August 8th. UBS Group upped their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Scotiabank lowered their price objective on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, Truist Financial decreased their price target on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $71.50.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 765,899 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was bought at an average price of $60.28 per share, with a total value of $46,168,391.72. Following the purchase, the insider now directly owns 252,333,913 shares of the company’s stock, valued at approximately $15,210,688,275.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Berkshire Hathaway Inc acquired 765,899 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average cost of $60.28 per share, for a total transaction of $46,168,391.72. Following the completion of the acquisition, the insider now owns 252,333,913 shares in the company, valued at $15,210,688,275.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the 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 sale, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 2,745,563 shares of company stock worth $164,581,732. 0.31% of the stock is currently owned by company insiders.

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.