CX Institutional Has $179,000 Position in Occidental Petroleum Co. (NYSE:OXY)

CX Institutional lowered its stake in Occidental Petroleum Co. (NYSE:OXY) by 25.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,469 shares of the oil and gas producer’s stock after selling 1,188 shares during the period. CX Institutional’s holdings in Occidental Petroleum were worth $179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Investment Research & Advisory Group Inc. boosted its stake in Occidental Petroleum by 75.2% in 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 acquiring an additional 167 shares during the last quarter. New Covenant Trust Company N.A. bought a new position in Occidental Petroleum in the first quarter valued at approximately $44,000. LRI Investments LLC bought a new position in Occidental Petroleum in the first quarter valued at approximately $44,000. Riverview Trust Co bought a new position in Occidental Petroleum in the first quarter valued at approximately $63,000. Finally, Exchange Traded Concepts LLC bought a new position in Occidental Petroleum in the third quarter valued at approximately $87,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OXY shares. BMO Capital Markets reduced their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Wolfe Research began coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target on the stock. Susquehanna reduced their price target on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Barclays reduced their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, Scotiabank reduced their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $65.78.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’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 directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by company insiders.

Occidental Petroleum Stock Up 0.9 %

Shares of OXY stock opened at $51.73 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a 1 year low of $49.75 and a 1 year high of $71.18. The firm’s fifty day moving average price is $54.21 and its two-hundred day moving average price is $59.96. The firm has a market capitalization of $45.87 billion, a P/E ratio of 14.13 and a beta of 1.57.

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 (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the business earned $0.68 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts predict that Occidental Petroleum Co. will post 3.49 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th were paid a $0.22 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.70%. Occidental Petroleum’s payout ratio is currently 24.04%.

About Occidental Petroleum

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.