Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC cut its holdings in Occidental Petroleum Co. (NYSE:OXY) by 18.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,301 shares of the oil and gas producer’s stock after selling 3,163 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Occidental Petroleum were worth $737,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Chemistry Wealth Management LLC lifted its stake in shares of Occidental Petroleum by 0.9% in the 3rd quarter. Chemistry Wealth Management LLC now owns 35,974 shares of the oil and gas producer’s stock valued at $1,854,000 after purchasing an additional 313 shares during the last quarter. Czech National Bank raised its holdings in shares of Occidental Petroleum by 8.3% in the 3rd quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after buying an additional 10,456 shares during the period. Regency Capital Management Inc. DE acquired a new position in Occidental Petroleum during the 3rd quarter worth about $392,000. Massmutual Trust Co. FSB ADV boosted its holdings in Occidental Petroleum by 87.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,754 shares of the oil and gas producer’s stock valued at $142,000 after acquiring an additional 1,287 shares during the period. Finally, Norman Fields Gottscho Capital Management LLC grew its position in Occidental Petroleum by 1.3% in the 3rd quarter. Norman Fields Gottscho Capital Management LLC now owns 85,816 shares of the oil and gas producer’s stock valued at $4,423,000 after acquiring an additional 1,090 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Up 0.3 %

Shares of NYSE:OXY opened at $54.76 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The stock has a market cap of $48.55 billion, a P/E ratio of 14.96 and a beta of 1.57. Occidental Petroleum Co. has a 1-year low of $49.75 and a 1-year high of $71.18. The firm has a fifty day moving average price of $54.58 and a 200 day moving average price of $60.30.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates 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 quarter last year, the company posted $0.68 earnings per share. Sell-side analysts predict that Occidental Petroleum Co. will post 3.49 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared 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 dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is presently 24.04%.

Insider Activity at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s 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 completion of the sale, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OXY shares. Truist Financial reduced their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, October 5th. Evercore ISI lowered their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. UBS Group dropped their target price on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Wells Fargo & Company lowered their price objective on 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. Two equities research 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 stock has an average rating of “Hold” and a consensus price target of $66.29.

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.