Inspire Investing LLC Has $269,000 Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Inspire Investing LLC decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 38.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,275 shares of the oil and gas producer’s stock after selling 2,634 shares during the quarter. Inspire Investing LLC’s holdings in Occidental Petroleum were worth $269,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Research & Advisory Group Inc. grew its position in shares of Occidental Petroleum by 75.2% in 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 acquiring an additional 167 shares during the period. LifeSteps Financial Inc. bought a new position in Occidental Petroleum during the first quarter worth about $34,000. Able Wealth Management LLC acquired a new position in Occidental Petroleum during the fourth quarter worth approximately $38,000. New Covenant Trust Company N.A. bought a new stake in Occidental Petroleum in the first quarter valued at approximately $44,000. Finally, LRI Investments LLC acquired a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $44,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group dropped their price target 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. Susquehanna reduced their target price on shares of 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 started coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective for the company. Stephens reaffirmed an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. Finally, Wells Fargo & Company dropped their price target on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.60.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction dated 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 owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Occidental Petroleum Stock Up 0.3 %

OXY stock opened at $52.40 on Wednesday. The company has a market cap of $46.46 billion, a PE ratio of 14.32 and a beta of 1.58. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a 52 week low of $49.90 and a 52 week high of $71.18. The business has a 50-day simple moving average of $56.52 and a 200 day simple moving average of $61.14.

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, topping analysts’ consensus estimates of $0.77 by $0.26. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm’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 EPS. Sell-side analysts anticipate that Occidental Petroleum Co. will post 3.71 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm 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 is Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.68%. Occidental Petroleum’s payout ratio is 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.