Occidental Petroleum Co. (NYSE:OXY) Shares Sold by QS Investors LLC

QS Investors LLC decreased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 15.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 103,876 shares of the oil and gas producer’s stock after selling 19,015 shares during the quarter. QS Investors LLC’s holdings in Occidental Petroleum were worth $3,249,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Red Door Wealth Management LLC acquired a new stake in Occidental Petroleum during the second quarter valued at approximately $26,000. Cypress Capital Management LLC WY acquired a new stake in Occidental Petroleum during the second quarter valued at approximately $30,000. Arkadios Wealth Advisors raised its stake in Occidental Petroleum by 194.0% during the second quarter. Arkadios Wealth Advisors now owns 1,035 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 683 shares in the last quarter. Solstein Capital LLC acquired a new stake in Occidental Petroleum during the first quarter valued at approximately $40,000. Finally, Corsicana & Co. acquired a new stake in Occidental Petroleum during the second quarter valued at approximately $64,000. Institutional investors and hedge funds own 68.71% of the company’s stock.

Shares of NYSE OXY opened at $32.28 on Thursday. The firm has a market cap of $30.14 billion, a P/E ratio of -5.43, a PEG ratio of 0.52 and a beta of 2.46. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.15 and a current ratio of 1.34. The stock has a fifty day moving average price of $27.17 and a two-hundred day moving average price of $27.16. Occidental Petroleum Co. has a 1 year low of $8.52 and a 1 year high of $34.57.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Monday, August 2nd. The oil and gas producer reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.49. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.85 billion. Occidental Petroleum had a negative return on equity of 10.45% and a negative net margin of 26.10%. During the same quarter in the prior year, the company earned ($1.76) earnings per share. On average, research analysts predict that Occidental Petroleum Co. will post 0.96 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Friday, September 10th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.12%. Occidental Petroleum’s dividend payout ratio is -1.02%.

In other Occidental Petroleum news, Director Stephen I. Chazen bought 20,000 shares of the stock in a transaction on Monday, August 9th. The shares were purchased at an average cost of $25.76 per share, with a total value of $515,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Several analysts have issued reports on the company. Truist Securities upped their price objective on Occidental Petroleum from $27.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, October 7th. Morgan Stanley increased their price target on Occidental Petroleum from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 6th. Mizuho increased their price target on Occidental Petroleum from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, July 15th. Wells Fargo & Company increased their price target on Occidental Petroleum from $29.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Piper Sandler increased their price target on Occidental Petroleum from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, July 23rd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.04.

About Occidental Petroleum

Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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