Susquehanna Fundamental Investments LLC Has $23.91 Million Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Susquehanna Fundamental Investments LLC decreased its stake in Occidental Petroleum Co. (NYSE:OXY) by 9.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 379,267 shares of the oil and gas producer’s stock after selling 38,464 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Occidental Petroleum were worth $23,905,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. lifted its holdings in shares of 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. bought a new position in shares of Occidental Petroleum during the 1st quarter valued at about $34,000. Able Wealth Management LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $38,000. New Covenant Trust Company N.A. bought a new position in shares of Occidental Petroleum during the 1st quarter valued at about $44,000. Finally, LRI Investments LLC bought a new position in shares of Occidental Petroleum during the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the topic of several research reports. UBS Group cut their target price on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company decreased their target price on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday. Susquehanna decreased their target price on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Scotiabank decreased their target price on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Finally, Truist Financial decreased 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. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $70.21.

Occidental Petroleum Price Performance

Shares of OXY opened at $51.03 on Friday. Occidental Petroleum Co. has a 12-month low of $49.75 and a 12-month high of $71.18. The business has a 50-day simple moving average of $56.00 and a two-hundred day simple moving average of $60.99. 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 stock has a market cap of $45.25 billion, a PE ratio of 13.94 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 17.91% and a net margin of 16.62%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Analysts anticipate that Occidental Petroleum Co. will post 3.57 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

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

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’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 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 Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by 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.