Pursue Wealth Partners LLC lowered its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 47.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,655 shares of the oil and gas producer’s stock after selling 8,690 shares during the period. Pursue Wealth Partners LLC’s holdings in Occidental Petroleum were worth $469,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Axiom Investment Management LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter worth approximately $25,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Occidental Petroleum in the first quarter valued at $26,000. Portus Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum during the first quarter valued at $29,000. Caitlin John LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter valued at $29,000. Finally, Activest Wealth Management increased its position in Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 305 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have issued reports on OXY shares. The Goldman Sachs Group reduced their target price on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Susquehanna boosted 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. Citigroup reduced their price objective on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, JPMorgan Chase & Co. cut their price target on Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $64.83.
Insider Transactions at Occidental Petroleum
In other news, CEO Richard A. Jackson purchased 4,770 shares of the stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.
Occidental Petroleum Trading Up 1.2%
Shares of OXY stock opened at $59.04 on Tuesday. The firm’s 50-day simple moving average is $54.22 and its 200-day simple moving average is $55.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. Occidental Petroleum Corporation has a 1-year low of $38.80 and a 1-year high of $67.45. The firm has a market cap of $59.02 billion, a P/E ratio of 9.14, a PEG ratio of 0.79 and a beta of 0.15.
Occidental Petroleum (NYSE:OXY – Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57. The firm had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. Occidental Petroleum’s revenue was up 53.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 earnings per share. As a group, equities analysts forecast that Occidental Petroleum Corporation will post 5.81 EPS for the current year.
Occidental Petroleum Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be given a $0.28 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. Occidental Petroleum’s dividend payout ratio is 16.10%.
Occidental Petroleum 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.
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