Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Freemont Management S.A.

Freemont Management S.A. decreased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 88.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,249 shares of the oil and gas producer’s stock after selling 10,000 shares during the quarter. Freemont Management S.A.’s holdings in Occidental Petroleum were worth $51,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Choreo LLC increased its stake in Occidental Petroleum by 1,211.9% in the 2nd quarter. Choreo LLC now owns 58,129 shares of the oil and gas producer’s stock valued at $3,655,000 after buying an additional 53,698 shares during the period. Ping Capital Management Inc. acquired a new stake in Occidental Petroleum during the second quarter valued at $441,000. X Square Capital LLC increased its position in Occidental Petroleum by 96.0% in the 2nd quarter. X Square Capital LLC now owns 34,204 shares of the oil and gas producer’s stock worth $2,156,000 after purchasing an additional 16,756 shares during the last quarter. Caprock Group LLC raised its stake in shares of Occidental Petroleum by 242.6% during the 2nd quarter. Caprock Group LLC now owns 53,173 shares of the oil and gas producer’s stock worth $3,362,000 after purchasing an additional 37,654 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Occidental Petroleum during the 2nd quarter valued at about $1,563,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 1,060,653 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $59.59 per share, with a total value of $63,204,312.27. Following the completion of the transaction, the insider now directly owns 254,947,063 shares of the company’s stock, valued at approximately $15,192,295,484.17. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Berkshire Hathaway Inc purchased 1,060,653 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was bought at an average cost of $59.59 per share, with a total value of $63,204,312.27. Following the completion of the purchase, the insider now owns 254,947,063 shares of the company’s stock, valued at approximately $15,192,295,484.17. The disclosure for this purchase can be found here. Insiders purchased 2,161,013 shares of company stock valued at $129,356,749 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent research reports. Citigroup cut their price target on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Truist Financial lowered their price objective on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Susquehanna decreased their target price on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Scotiabank lowered their target price on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Stephens reaffirmed an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $71.50.

Occidental Petroleum Stock Up 0.3 %

NYSE OXY traded up $0.15 during trading hours on Monday, hitting $52.18. 1,073,249 shares of the company traded hands, compared to its average volume of 8,397,783. The business’s 50-day moving average is $58.96 and its 200-day moving average is $61.90. The stock has a market capitalization of $47.26 billion, a price-to-earnings ratio of 14.22 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum Co. has a twelve month low of $51.79 and a twelve month high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts anticipate that Occidental Petroleum Co. will post 3.66 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.69%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

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.