1832 Asset Management L.P. Has $3.75 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

1832 Asset Management L.P. lessened its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.4% in the second quarter, HoldingsChannel.com reports. The firm owned 59,412 shares of the oil and gas producer’s stock after selling 222 shares during the quarter. 1832 Asset Management L.P.’s holdings in Occidental Petroleum were worth $3,745,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in OXY. Swedbank AB bought a new position in Occidental Petroleum during the first quarter worth $12,547,000. Allspring Global Investments Holdings LLC grew its holdings in Occidental Petroleum by 139.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,529 shares of the oil and gas producer’s stock worth $5,104,000 after acquiring an additional 45,722 shares during the period. Bridgefront Capital LLC bought a new position in shares of Occidental Petroleum in the 4th quarter worth about $763,000. Alberta Investment Management Corp lifted its stake in shares of Occidental Petroleum by 143.2% in the 4th quarter. Alberta Investment Management Corp now owns 36,475 shares of the oil and gas producer’s stock valued at $2,178,000 after purchasing an additional 21,475 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Occidental Petroleum by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 904,081 shares of the oil and gas producer’s stock valued at $58,757,000 after purchasing an additional 8,863 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum 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 moving average price of $56.52 and a 200-day moving average price of $61.14.

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 for the quarter, beating the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion for 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 revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. Equities analysts anticipate that Occidental Petroleum Co. will post 3.71 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.22 per share. 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 dividend payout ratio is currently 24.04%.

Analyst Ratings Changes

OXY has been the topic of several recent analyst reports. StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, September 19th. Scotiabank dropped their target price on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Stephens restated an “overweight” rating and issued a $76.00 price target on shares of Occidental Petroleum in a report on Thursday, August 8th. 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 objective on the stock. Finally, Mizuho decreased their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $71.60.

Insider Activity

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction 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 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 SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by corporate 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.