Joel Isaacson & Co. LLC purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,644 shares of the oil and gas producer’s stock, valued at approximately $285,000.
A number of other institutional investors have also recently added to or reduced their stakes in OXY. Exchange Traded Concepts LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter worth about $25,000. Riverview Trust Co increased its position in shares of Occidental Petroleum by 498.8% in the 1st quarter. Riverview Trust Co now owns 976 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 813 shares during the last quarter. Arlington Partners LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter worth about $29,000. Trust Co. of Vermont bought a new stake in shares of Occidental Petroleum in the 4th quarter worth about $41,000. Finally, Point72 Hong Kong Ltd increased its position in shares of Occidental Petroleum by 111.9% in the 4th quarter. Point72 Hong Kong Ltd now owns 1,415 shares of the oil and gas producer’s stock worth $41,000 after purchasing an additional 13,315 shares during the last quarter. 86.15% of the stock is currently owned by hedge funds and other institutional investors.
Occidental Petroleum stock opened at $60.44 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 1.71. The firm has a 50-day moving average price of $62.26 and a two-hundred day moving average price of $50.55. The firm has a market capitalization of $56.64 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.17 and a beta of 1.92. Occidental Petroleum Co. has a 52-week low of $21.62 and a 52-week high of $74.04.
Occidental Petroleum (NYSE:OXY – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The oil and gas producer reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.09. The company had revenue of $8.53 billion during the quarter, compared to analyst estimates of $8.06 billion. Occidental Petroleum had a net margin of 25.01% and a return on equity of 47.28%. The business’s revenue for the quarter was up 61.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) EPS. Research analysts expect that Occidental Petroleum Co. will post 10.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, June 10th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, June 9th. Occidental Petroleum’s dividend payout ratio is currently 7.91%.
In related news, CAO Christopher O. Champion sold 111,594 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $70.44, for a total value of $7,860,681.36. Following the sale, the chief accounting officer now directly owns 38,303 shares in the company, valued at approximately $2,698,063.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 716,355 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was acquired at an average price of $57.32 per share, for a total transaction of $41,061,468.60. Following the completion of the acquisition, the insider now directly owns 142,976,973 shares in the company, valued at $8,195,440,092.36. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 23,301,157 shares of company stock valued at $1,327,555,037. Company insiders own 0.31% of the company’s stock.
OXY has been the subject of several research analyst reports. StockNews.com raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Friday, May 13th. Mizuho lifted their price target on shares of Occidental Petroleum from $85.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, May 31st. Truist Financial lifted their price target on shares of Occidental Petroleum from $78.00 to $86.00 in a report on Thursday, April 21st. Barclays raised their price target on shares of Occidental Petroleum from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Tuesday, June 14th. Finally, Raymond James lifted their price target on shares of Occidental Petroleum from $85.00 to $90.00 and gave the company a “strong-buy” rating in a report on Monday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.00.
Occidental Petroleum Company Profile: (Get Rating)
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, Africa, and Latin America. It operates through three segments. Oil and Gas, Chemical, and Midstream and Marketing.
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