Portside Wealth Group LLC Has $847,000 Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Portside Wealth Group LLC lifted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 20.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 16,438 shares of the oil and gas producer’s stock after purchasing an additional 2,794 shares during the quarter. Portside Wealth Group LLC’s holdings in Occidental Petroleum were worth $847,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of OXY. Meeder Advisory Services Inc. grew its holdings in Occidental Petroleum by 2.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock worth $553,000 after acquiring an additional 164 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Occidental Petroleum by 2.6% in the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after purchasing an additional 173 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in Occidental Petroleum by 2.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock valued at $573,000 after purchasing an additional 175 shares during the period. Atria Wealth Solutions Inc. raised its position in Occidental Petroleum by 0.6% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock worth $1,735,000 after purchasing an additional 176 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its holdings in Occidental Petroleum by 1.0% during the 2nd quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock worth $1,109,000 after buying an additional 182 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Down 1.4 %

NYSE OXY opened at $50.52 on Friday. Occidental Petroleum Co. has a 52 week low of $49.51 and a 52 week high of $71.18. The business has a 50 day moving average price of $52.20 and a 200-day moving average price of $58.09. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The company has a market cap of $45.75 billion, a price-to-earnings ratio of 12.44 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share 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 for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. As a group, equities analysts expect that Occidental Petroleum Co. will post 3.29 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. Occidental Petroleum’s dividend payout ratio is presently 21.67%.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of analyst reports. Bank of America began coverage on Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective for the company. Truist Financial lowered their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. BMO Capital Markets reduced their price objective 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. Barclays lowered their target price on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a report on Friday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.78.

About Occidental Petroleum

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.