EP Wealth Advisors LLC Sells 1,896 Shares of Occidental Petroleum Co. (NYSE:OXY)

EP Wealth Advisors LLC lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 35.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,485 shares of the oil and gas producer’s stock after selling 1,896 shares during the period. EP Wealth Advisors LLC’s holdings in Occidental Petroleum were worth $220,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. lifted its stake 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 buying an additional 167 shares in the last quarter. LifeSteps Financial Inc. bought a new position in shares of Occidental Petroleum in the first quarter worth $34,000. Able Wealth Management LLC purchased a new position in shares of Occidental Petroleum in the fourth quarter valued at $38,000. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum during the 1st quarter valued at $44,000. Finally, LRI Investments LLC purchased a new stake in Occidental Petroleum during the 1st quarter worth about $44,000. 88.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on OXY shares. Barclays reduced their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday. BMO Capital Markets reduced their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday. Truist Financial lowered their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company reduced their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Finally, StockNews.com downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday. Two analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.18.

Occidental Petroleum Trading Up 1.8 %

OXY stock opened at $55.76 on Friday. The company has a market capitalization of $49.44 billion, a PE ratio of 15.23 and a beta of 1.57. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum Co. has a one year low of $49.75 and a one year high of $71.18. The company’s 50 day moving average price is $55.08 and its two-hundred day moving average price is $60.62.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The company had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter last year, the company earned $0.68 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, analysts predict that Occidental Petroleum Co. will post 3.57 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.58%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

Occidental Petroleum 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.