Anchor Investment Management LLC Sells 665 Shares of Occidental Petroleum Co. (NYSE:OXY)

Anchor Investment Management LLC reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 32.4% during the second quarter, Holdings Channel reports. The institutional investor owned 1,385 shares of the oil and gas producer’s stock after selling 665 shares during the quarter. Anchor Investment Management LLC’s holdings in Occidental Petroleum were worth $87,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of OXY. Bluefin Capital Management LLC grew its position in Occidental Petroleum by 3.7% during the 2nd quarter. Bluefin Capital Management LLC now owns 48,996 shares of the oil and gas producer’s stock worth $3,088,000 after acquiring an additional 1,730 shares during the last quarter. Heritage Wealth Management Inc. purchased a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $418,000. Gordian Capital Singapore Pte Ltd grew its holdings in shares of Occidental Petroleum by 300,000.0% in the second quarter. Gordian Capital Singapore Pte Ltd now owns 6,002 shares of the oil and gas producer’s stock worth $378,000 after purchasing an additional 6,000 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Occidental Petroleum in the second quarter worth $110,000. Finally, KGH Ltd bought a new stake in Occidental Petroleum during the 2nd quarter valued at $5,295,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OXY shares. Evercore ISI cut their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. Susquehanna cut their target price on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Truist Financial lowered their price target on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Barclays cut their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Stephens restated an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.18.

Insiders Place Their Bets

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 shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY opened at $55.76 on Friday. 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 $49.44 billion, a P/E ratio of 15.23 and a beta of 1.57. The business’s 50 day moving average price is $55.08 and its 200-day moving average price is $60.62. Occidental Petroleum Co. has a 52 week low of $49.75 and a 52 week high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.57 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

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

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.