Pictet Asset Management SA decreased its position in Occidental Petroleum Co. (NYSE:OXY – Free Report) by 17.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,471 shares of the oil and gas producer’s stock after selling 55,628 shares during the quarter. Pictet Asset Management SA’s holdings in Occidental Petroleum were worth $15,949,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Madison Wealth Management boosted its position in Occidental Petroleum by 1.1% during the 4th quarter. Madison Wealth Management now owns 15,260 shares of the oil and gas producer’s stock worth $961,000 after acquiring an additional 160 shares during the period. HBW Advisory Services LLC boosted its position in Occidental Petroleum by 3.6% during the 1st quarter. HBW Advisory Services LLC now owns 4,790 shares of the oil and gas producer’s stock worth $299,000 after acquiring an additional 166 shares during the period. Mutual Advisors LLC boosted its position in Occidental Petroleum by 4.8% during the 1st quarter. Mutual Advisors LLC now owns 3,746 shares of the oil and gas producer’s stock worth $234,000 after acquiring an additional 172 shares during the period. Avaii Wealth Management LLC boosted its position in Occidental Petroleum by 4.7% during the 1st quarter. Avaii Wealth Management LLC now owns 3,958 shares of the oil and gas producer’s stock worth $247,000 after acquiring an additional 177 shares during the period. Finally, Lazard Asset Management LLC boosted its position in Occidental Petroleum by 1.5% during the 1st quarter. Lazard Asset Management LLC now owns 11,920 shares of the oil and gas producer’s stock worth $676,000 after acquiring an additional 180 shares during the period. Institutional investors and hedge funds own 78.31% of the company’s stock.
Occidental Petroleum Price Performance
Shares of OXY stock opened at $64.07 on Monday. The stock’s fifty day simple moving average is $60.56 and its 200 day simple moving average is $60.69. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market cap of $56.68 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 0.75 and a beta of 1.76. Occidental Petroleum Co. has a one year low of $55.51 and a one year high of $77.13.
Occidental Petroleum Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, September 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 12.22%.
Insider Activity
In other news, major shareholder Berkshire Hathaway Inc purchased 956,750 shares of the business’s 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 completion of the purchase, the insider now directly owns 218,286,883 shares of the company’s stock, valued at approximately $12,824,354,376.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought 4,059,573 shares of company stock valued at $235,946,451 over the last 90 days. 0.35% of the stock is owned by company insiders.
Analysts Set New Price Targets
OXY has been the subject of a number of research reports. Mizuho raised their price objective on Occidental Petroleum from $68.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Roth Mkm reiterated a “neutral” rating and set a $60.00 price target on shares of Occidental Petroleum in a report on Wednesday, August 16th. Piper Sandler lifted their price target on Occidental Petroleum from $61.00 to $62.00 in a report on Tuesday, June 13th. Raymond James reduced their price target on Occidental Petroleum from $80.00 to $75.00 and set a “strong-buy” rating for the company in a report on Monday, July 24th. Finally, UBS Group lifted their price target on Occidental Petroleum from $63.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $69.82.
Read Our Latest Stock Report on Occidental Petroleum
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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