Fairfield Financial Advisors LTD Takes $983,000 Position in Occidental Petroleum Co. (NYSE:OXY)

Fairfield Financial Advisors LTD acquired a new position in Occidental Petroleum Co. (NYSE:OXY) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,602 shares of the oil and gas producer’s stock, valued at approximately $983,000.

Several other large investors have also recently added to or reduced their stakes in OXY. Berkshire Hathaway Inc boosted its holdings in shares of Occidental Petroleum by 8.7% in the fourth 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 in the last quarter. American Century Companies Inc. raised its stake in shares of Occidental Petroleum by 16.8% in the 2nd 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 in the last quarter. Cooke & Bieler LP boosted its stake in Occidental Petroleum by 53.1% during the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after buying an additional 503,173 shares in the last quarter. Epoch Investment Partners Inc. raised its position in Occidental Petroleum by 52.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer’s stock worth $83,568,000 after acquiring an additional 483,422 shares in the last quarter. Finally, Clean Energy Transition LLP acquired a new stake in Occidental Petroleum in the 1st quarter valued at about $67,601,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $51.05 on Monday. Occidental Petroleum Co. has a fifty-two week low of $49.90 and a fifty-two week high of $71.18. The stock’s 50-day moving average is $57.85 and its two-hundred day moving average is $61.58. 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 cap of $46.23 billion, a P/E ratio of 13.95 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 earnings per share. Analysts predict that Occidental Petroleum Co. will post 3.71 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s payout ratio is presently 24.04%.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s 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 of the company’s stock, valued at $5,923,116,413.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on OXY shares. Wells Fargo & Company cut their target price on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Citigroup dropped their price target on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Susquehanna dropped their target price on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Scotiabank reduced their price target on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, UBS Group lifted their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.27.

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.