Wedmont Private Capital Trims Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Wedmont Private Capital cut its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 12.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,128 shares of the oil and gas producer’s stock after selling 1,933 shares during the period. Wedmont Private Capital’s holdings in Occidental Petroleum were worth $968,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Berkshire Hathaway Inc raised its stake in shares of Occidental Petroleum by 8.7% in the 4th 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 during the period. Pacer Advisors Inc. raised its stake in shares of Occidental Petroleum by 22.2% in the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after acquiring an additional 1,088,052 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Occidental Petroleum by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer’s stock valued at $220,910,000 after acquiring an additional 82,360 shares during the period. ANTIPODES PARTNERS Ltd raised its stake in shares of Occidental Petroleum by 51.7% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after acquiring an additional 797,894 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Occidental Petroleum by 600.4% in the 3rd quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock valued at $145,520,000 after acquiring an additional 1,922,656 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of Occidental Petroleum stock in a transaction dated Monday, June 17th. The stock was acquired at an average price of $59.75 per share, for a total transaction of $19,984,044.75. Following the transaction, the insider now owns 255,281,524 shares of the company’s stock, valued at $15,253,071,059. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders purchased 4,656,747 shares of company stock worth $278,664,028. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Occidental Petroleum from $68.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday. Truist Financial cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating and dropped their price objective for the company from $84.00 to $69.00 in a report on Thursday, May 16th. Citigroup dropped their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Morgan Stanley lifted their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Eleven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $71.56.

Occidental Petroleum Trading Down 2.4 %

NYSE OXY opened at $60.92 on Friday. The stock has a market capitalization of $54.01 billion, a PE ratio of 16.64 and a beta of 1.59. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18. The firm has a 50 day moving average of $63.32 and a two-hundred day moving average of $61.48.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The company’s revenue was down 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. As a group, research analysts expect that Occidental Petroleum Co. will post 3.87 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.44%. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

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.