Meeder Advisory Services Inc. Purchases 2,531 Shares of Occidental Petroleum Co. (NYSE:OXY)

Meeder Advisory Services Inc. raised its position in Occidental Petroleum Co. (NYSE:OXY) by 29.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,034 shares of the oil and gas producer’s stock after buying an additional 2,531 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Occidental Petroleum were worth $695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in OXY. Investment Research & Advisory Group Inc. lifted its holdings in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares during the last quarter. LifeSteps Financial Inc. bought a new position in Occidental Petroleum in the 1st quarter worth approximately $34,000. Able Wealth Management LLC purchased a new position in Occidental Petroleum in the 4th quarter valued at approximately $38,000. New Covenant Trust Company N.A. bought a new stake in Occidental Petroleum during the 1st quarter valued at $44,000. Finally, LRI Investments LLC purchased a new stake in shares of Occidental Petroleum during the first quarter worth $44,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $51.05 on Friday. Occidental Petroleum Co. has a 1-year low of $49.90 and a 1-year high of $71.18. 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 business has a 50 day moving average of $57.85 and a 200 day moving average of $61.57. The company has a market capitalization of $46.23 billion, a price-to-earnings ratio of 13.95 and a beta of 1.58.

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

Occidental Petroleum Dividend Announcement

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

Wall Street Analyst Weigh In

OXY has been the topic of a number of analyst reports. Stephens reiterated an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a research note on Thursday, August 8th. Scotiabank lowered their price target on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company reduced their price objective 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. Truist Financial lowered their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, UBS Group boosted their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $72.27.

Insider Buying and Selling

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 transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of the company’s stock in a transaction on 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 acquisition, the insider now owns 255,281,524 shares in the company, valued at approximately $15,253,071,059. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

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.