Jump Financial LLC lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY – Free Report) by 80.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,826 shares of the oil and gas producer’s stock after selling 28,208 shares during the quarter. Jump Financial LLC’s holdings in Occidental Petroleum were worth $426,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC boosted its holdings in shares of Occidental Petroleum by 5,000.0% during the first quarter. Wolff Wiese Magana LLC now owns 510 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 500 shares during the period. Resurgent Financial Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter valued at about $35,000. Financial Freedom LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $38,000. New Millennium Group LLC raised its holdings in shares of Occidental Petroleum by 221.0% during the fourth quarter. New Millennium Group LLC now owns 642 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 442 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Occidental Petroleum during the first quarter worth approximately $54,000. 78.31% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
OXY has been the topic of several analyst reports. 51job restated a “maintains” rating on shares of Occidental Petroleum in a research report on Tuesday, June 13th. Susquehanna cut their price objective on shares of Occidental Petroleum from $75.00 to $72.00 and set a “positive” rating on the stock in a research note on Friday, July 21st. Raymond James decreased their target price on shares of Occidental Petroleum from $80.00 to $75.00 and set a “strong-buy” rating for the company in a research report on Monday, July 24th. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, The Goldman Sachs Group raised their price objective on shares of Occidental Petroleum from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, April 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average price target of $69.56.
Insider Buying and Selling at Occidental Petroleum
In related news, major shareholder Berkshire Hathaway Inc acquired 956,750 shares of the stock in a transaction dated Thursday, May 25th. The shares were acquired at an average price of $58.75 per share, with a total value of $56,209,062.50. Following the acquisition, the insider now owns 218,286,883 shares in the company, valued at approximately $12,824,354,376.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased a total of 6,469,323 shares of company stock worth $376,269,362 over the last three months. Corporate insiders own 0.35% of the company’s stock.
Occidental Petroleum Stock Up 0.6 %
OXY opened at $63.90 on Tuesday. The company has a market capitalization of $56.53 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 0.76 and a beta of 1.76. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.73. Occidental Petroleum Co. has a fifty-two week low of $55.51 and a fifty-two week high of $77.13. The business has a 50-day moving average of $59.59 and a 200-day moving average of $60.79.
Occidental Petroleum (NYSE:OXY – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). Occidental Petroleum had a net margin of 21.36% and a return on equity of 31.59%. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter last year, the firm earned $3.16 earnings per share. Occidental Petroleum’s revenue was down 37.3% compared to the same quarter last year. Equities research analysts forecast that Occidental Petroleum Co. will post 3.78 EPS for the current fiscal year.
Occidental Petroleum Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 8th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, September 7th. Occidental Petroleum’s payout ratio is 12.22%.
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, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.
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