Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co cut its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 19.5% in the 2nd quarter, Holdings Channel reports. The fund owned 56,381 shares of the oil and gas producer’s stock after selling 13,663 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Occidental Petroleum were worth $3,554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of OXY. Investment Research & Advisory Group Inc. grew its stake in Occidental Petroleum by 75.2% during the 1st 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 in the last quarter. LifeSteps Financial Inc. acquired a new stake in shares of Occidental Petroleum during the first quarter worth approximately $34,000. Able Wealth Management LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter worth $38,000. New Covenant Trust Company N.A. acquired a new stake in Occidental Petroleum in the first quarter valued at $44,000. Finally, LRI Investments LLC bought a new position in Occidental Petroleum during the 1st quarter valued at $44,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Down 0.6 %

Shares of NYSE:OXY opened at $51.77 on Thursday. Occidental Petroleum Co. has a fifty-two week low of $49.90 and a fifty-two week high of $71.18. 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 $46.88 billion, a PE ratio of 14.14 and a beta of 1.58. The company’s 50-day moving average price is $57.29 and its 200 day moving average price is $61.38.

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, topping the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. Sell-side analysts anticipate that Occidental Petroleum Co. will post 3.71 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. Investors of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

Analyst Ratings Changes

OXY has been the subject of several research analyst reports. Mizuho dropped their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday. Susquehanna lowered their price objective on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Wolfe Research initiated coverage on Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 target price on the stock. Scotiabank lowered their price target on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, Wells Fargo & Company reduced their price objective on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $71.60.

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.