Occidental Petroleum Corporation $OXY Shares Sold by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC cut its position in Occidental Petroleum Corporation (NYSE:OXY) by 47.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,655 shares of the oil and gas producer’s stock after selling 8,690 shares during the quarter. Pursue Wealth Partners LLC’s holdings in Occidental Petroleum were worth $469,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Occidental Petroleum by 12.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,765 shares of the oil and gas producer’s stock valued at $111,000 after buying an additional 196 shares during the last quarter. Athena Wealth Management LLC grew its holdings in shares of Occidental Petroleum by 1.2% during the first quarter. Athena Wealth Management LLC now owns 18,547 shares of the oil and gas producer’s stock worth $1,206,000 after buying an additional 214 shares during the last quarter. Elevation Wealth Partners LLC increased its position in Occidental Petroleum by 15.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,615 shares of the oil and gas producer’s stock valued at $78,000 after acquiring an additional 220 shares during the period. HBK Sorce Advisory LLC raised its stake in Occidental Petroleum by 2.8% during the 2nd quarter. HBK Sorce Advisory LLC now owns 8,210 shares of the oil and gas producer’s stock valued at $442,000 after acquiring an additional 220 shares during the last quarter. Finally, Carrera Capital Advisors lifted its position in Occidental Petroleum by 0.5% during the 4th quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock worth $1,831,000 after acquiring an additional 227 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In related news, CEO Richard A. Jackson purchased 4,770 shares of Occidental Petroleum stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the transaction, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent research reports. Citigroup dropped their target price on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Susquehanna lifted their price objective on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. Morgan Stanley dropped their price objective on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 26th. Weiss Ratings upgraded shares of Occidental Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Finally, Mizuho raised their target price on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Ten analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $64.83.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $59.04 on Tuesday. The company has a market cap of $59.02 billion, a P/E ratio of 9.14, a price-to-earnings-growth ratio of 0.79 and a beta of 0.15. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The business has a fifty day moving average of $54.22 and a two-hundred day moving average of $55.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.57. The business had revenue of $8.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. As a group, analysts predict that Occidental Petroleum Corporation will post 5.81 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 1.9%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 16.10%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.