Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Privium Fund Management B.V.

Privium Fund Management B.V. lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 83.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,192 shares of the oil and gas producer’s stock after selling 415,015 shares during the quarter. Occidental Petroleum comprises approximately 1.0% of Privium Fund Management B.V.’s portfolio, making the stock its 26th biggest position. Privium Fund Management B.V.’s holdings in Occidental Petroleum were worth $4,185,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of OXY. Mesirow Financial Investment Management Inc. lifted its position in Occidental Petroleum by 14.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 4,028 shares of the oil and gas producer’s stock valued at $208,000 after purchasing an additional 514 shares during the period. XML Financial LLC raised its stake in shares of Occidental Petroleum by 25.6% during the 3rd quarter. XML Financial LLC now owns 22,747 shares of the oil and gas producer’s stock worth $1,172,000 after buying an additional 4,636 shares in the last quarter. Oxbow Advisors LLC lifted its holdings in shares of Occidental Petroleum by 49.8% in the 3rd quarter. Oxbow Advisors LLC now owns 5,265 shares of the oil and gas producer’s stock valued at $271,000 after buying an additional 1,750 shares during the period. Primoris Wealth Advisors LLC boosted its stake in shares of Occidental Petroleum by 22.5% in the third quarter. Primoris Wealth Advisors LLC now owns 30,450 shares of the oil and gas producer’s stock valued at $1,569,000 after buying an additional 5,600 shares in the last quarter. Finally, TCTC Holdings LLC grew its holdings in Occidental Petroleum by 7.0% during the third quarter. TCTC Holdings LLC now owns 427,907 shares of the oil and gas producer’s stock worth $22,054,000 after acquiring an additional 27,825 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price on the stock. Scotiabank lowered their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Mizuho reduced their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wolfe Research began coverage on Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price target on the stock. Finally, Truist Financial dropped their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued 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 stock currently has an average rating of “Hold” and a consensus target price of $64.78.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $50.53 on Friday. The firm’s 50-day moving average is $52.20 and its two-hundred day moving average is $58.09. 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 stock has a market capitalization of $45.76 billion, a P/E ratio of 12.45 and a beta of 1.58. Occidental Petroleum Co. has a 12-month low of $49.51 and a 12-month high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its 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. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company earned $0.68 EPS. Occidental Petroleum’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts predict that Occidental Petroleum Co. will post 3.29 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed 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 of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 21.67%.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction dated 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 sale, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.