Occidental Petroleum Co. (OXY) Position Trimmed by Level Four Advisory Services LLC
Level Four Advisory Services LLC trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 55.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,884 shares of the oil and gas producer’s stock after selling 14,694 shares during the period. Level Four Advisory Services LLC’s holdings in Occidental Petroleum were worth $754,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust grew its holdings in Occidental Petroleum by 54.8% during the 2nd quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after purchasing an additional 622 shares in the last quarter. Oakworth Capital Inc. grew its holdings in Occidental Petroleum by 14.7% during the 2nd quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after purchasing an additional 250 shares in the last quarter. Parallel Advisors LLC grew its holdings in Occidental Petroleum by 15.6% during the 1st quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 264 shares in the last quarter. FNY Partners Fund LP acquired a new stake in Occidental Petroleum during the 1st quarter valued at $126,000. Finally, Farmers National Bank acquired a new stake in Occidental Petroleum during the 1st quarter valued at $147,000. 80.53% of the stock is owned by institutional investors and hedge funds.
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In other Occidental Petroleum news, Director William R. Klesse purchased 10,000 shares of the stock in a transaction on Wednesday, August 9th. The shares were purchased at an average price of $61.58 per share, with a total value of $615,800.00. Following the acquisition, the director now directly owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.32% of the company’s stock.
Occidental Petroleum Co. (OXY) traded down 0.51% on Tuesday, hitting $64.44. 800,240 shares of the stock were exchanged. The company’s 50 day moving average is $62.49 and its 200 day moving average is $61.33. Occidental Petroleum Co. has a 1-year low of $57.20 and a 1-year high of $75.60. The stock has a market cap of $49.27 billion, a PE ratio of 453.80 and a beta of 0.67.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. Occidental Petroleum had a net margin of 10.38% and a return on equity of 9.62%. The business’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.18) EPS. On average, equities research analysts expect that Occidental Petroleum Co. will post $0.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.76%. The ex-dividend date is Friday, December 8th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 2,369.23%.
OXY has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Occidental Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Jefferies Group LLC set a $58.00 price target on shares of Occidental Petroleum and gave the company a “hold” rating in a report on Tuesday, August 29th. BMO Capital Markets set a $60.00 price target on shares of Occidental Petroleum and gave the company a “hold” rating in a report on Tuesday, October 10th. Barclays PLC raised their price target on shares of Occidental Petroleum from $38.00 to $40.00 and gave the company an “underweight” rating in a report on Wednesday, October 11th. Finally, Wolfe Research raised shares of Occidental Petroleum from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $65.71.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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