J.W. Cole Advisors Inc. Has $435,000 Stock Position in Occidental Petroleum Co. (NYSE:OXY)

J.W. Cole Advisors Inc. lowered its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 24.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,897 shares of the oil and gas producer’s stock after selling 2,270 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Occidental Petroleum were worth $435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of OXY. Berkshire Hathaway Inc lifted its position 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 worth $14,552,271,000 after buying an additional 19,586,612 shares during the last quarter. American Century Companies Inc. lifted its holdings in 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 purchasing an additional 532,318 shares during the last quarter. Cooke & Bieler LP boosted its position 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 worth $91,398,000 after purchasing an additional 503,173 shares during the period. Epoch Investment Partners Inc. grew its holdings in Occidental Petroleum by 52.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer’s stock valued at $83,568,000 after purchasing an additional 483,422 shares during the last quarter. Finally, Clean Energy Transition LLP bought a new position in shares of Occidental Petroleum in the first quarter valued at approximately $67,601,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 1.5 %

Shares of OXY opened at $52.08 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The stock has a market cap of $47.16 billion, a PE ratio of 14.23 and a beta of 1.58. Occidental Petroleum Co. has a 1 year low of $49.90 and a 1 year high of $71.18. The stock has a 50 day simple moving average of $57.48 and a 200-day simple moving average of $61.45.

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 (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 company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the business earned $0.68 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts predict that Occidental Petroleum Co. will post 3.71 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a $0.22 dividend. 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%.

Analysts Set New Price Targets

OXY has been the topic of several recent analyst reports. Wolfe Research initiated coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price on the stock. Citigroup dropped their price objective 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. Mizuho cut their price objective on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday. Truist Financial lowered their target price on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Finally, UBS Group upped their price target on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $72.33.

Insiders Place Their Bets

In other news, 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 stock was 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 of the company’s stock, valued at approximately $5,923,116,413.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

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.