Occidental Petroleum Co. (NYSE:OXY) Stock Holdings Decreased by Sterling Investment Management LLC

Sterling Investment Management LLC cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 6.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,149 shares of the oil and gas producer’s stock after selling 4,495 shares during the quarter. Occidental Petroleum accounts for approximately 2.5% of Sterling Investment Management LLC’s holdings, making the stock its 10th biggest position. Sterling Investment Management LLC’s holdings in Occidental Petroleum were worth $3,358,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Himalaya Capital Management LLC purchased a new position in Occidental Petroleum in the second quarter worth $92,433,000. Clean Energy Transition LLP purchased a new position in shares of Occidental Petroleum in the 1st quarter valued at about $67,601,000. Sarasin & Partners LLP acquired a new stake in shares of Occidental Petroleum in the second quarter valued at about $63,880,000. Scharf Investments LLC purchased a new stake in Occidental Petroleum during the second quarter worth about $42,744,000. Finally, American Century Companies Inc. grew its position in Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after buying an additional 532,318 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 0.1 %

Shares of OXY stock opened at $51.66 on Monday. Occidental Petroleum Co. has a fifty-two week low of $49.75 and a fifty-two week high of $71.18. The firm’s 50 day moving average price is $54.08 and its two-hundred day moving average price is $59.75. The stock has a market cap of $45.80 billion, a price-to-earnings ratio of 14.11 and a beta of 1.57. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77.

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, topping analysts’ consensus estimates of $0.77 by $0.26. The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 EPS. On average, analysts anticipate that Occidental Petroleum Co. will post 3.48 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.70%. The ex-dividend date was Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Scotiabank decreased their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. BMO Capital Markets decreased their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective for the company. Mizuho lowered their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $65.72.

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.