Vontobel Holding Ltd. Boosts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Vontobel Holding Ltd. raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 389.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,802 shares of the oil and gas producer’s stock after purchasing an additional 62,716 shares during the quarter. Vontobel Holding Ltd.’s holdings in Occidental Petroleum were worth $4,061,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jamison Private Wealth Management Inc. grew its holdings in Occidental Petroleum by 108.4% during the third quarter. Jamison Private Wealth Management Inc. now owns 6,367 shares of the oil and gas producer’s stock worth $328,000 after acquiring an additional 3,312 shares during the period. Swedbank AB grew its stake in shares of Occidental Petroleum by 50.7% during the 3rd quarter. Swedbank AB now owns 282,054 shares of the oil and gas producer’s stock worth $14,537,000 after purchasing an additional 94,856 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Occidental Petroleum by 9.4% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,015 shares of the oil and gas producer’s stock valued at $465,000 after purchasing an additional 771 shares in the last quarter. Ameliora Wealth Management Ltd. lifted its stake in shares of Occidental Petroleum by 5.6% in the third quarter. Ameliora Wealth Management Ltd. now owns 8,482 shares of the oil and gas producer’s stock valued at $437,000 after purchasing an additional 450 shares during the period. Finally, Koshinski Asset Management Inc. boosted its holdings in Occidental Petroleum by 3.4% during the third quarter. Koshinski Asset Management Inc. now owns 31,812 shares of the oil and gas producer’s stock worth $1,640,000 after buying an additional 1,054 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial reduced their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, September 30th. BMO Capital Markets reduced their price objective on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 4th. Barclays lowered their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target for the company. Finally, Susquehanna lowered their price objective on shares of Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $65.72.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $51.65 on Friday. Occidental Petroleum Co. has a 1 year low of $49.75 and a 1 year high of $71.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The firm has a 50 day moving average price of $54.08 and a 200 day moving average price of $59.86. The company has a market cap of $46.78 billion, a price-to-earnings ratio of 12.72 and a beta of 1.57.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data 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 return on equity of 17.91% and a net margin of 16.62%. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts predict that Occidental Petroleum Co. will post 3.48 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 21.67%.

Insider Buying and Selling 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 transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is currently owned by corporate insiders.

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.