CX Institutional Has $294,000 Holdings in Occidental Petroleum Co. (NYSE:OXY)

CX Institutional lessened its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 38.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,657 shares of the oil and gas producer’s stock after selling 2,937 shares during the quarter. CX Institutional’s holdings in Occidental Petroleum were worth $294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB purchased a new stake in Occidental Petroleum in the 1st quarter worth about $12,547,000. Cullen Investment Group LTD. purchased a new position in Occidental Petroleum during the 4th quarter valued at about $1,006,000. Koshinski Asset Management Inc. increased its holdings in Occidental Petroleum by 53.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock worth $2,877,000 after acquiring an additional 16,871 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Occidental Petroleum by 139.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 78,529 shares of the oil and gas producer’s stock worth $5,104,000 after purchasing an additional 45,722 shares in the last quarter. Finally, Bridgefront Capital LLC purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $763,000. Institutional investors own 88.70% of the company’s stock.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 524,340 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average price of $59.75 per share, for a total transaction of $31,329,315.00. Following the acquisition, the insider now directly owns 248,542,468 shares of the company’s stock, valued at approximately $14,850,412,463. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders purchased 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is currently owned by company insiders.

Occidental Petroleum Trading Down 0.1 %

Shares of Occidental Petroleum stock traded down $0.08 on Friday, reaching $58.45. The company had a trading volume of 3,622,724 shares, compared to its average volume of 7,963,528. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71. The firm’s 50-day moving average price is $60.89 and its two-hundred day moving average price is $62.09. The firm has a market cap of $51.82 billion, a price-to-earnings ratio of 15.90 and a beta of 1.61. Occidental Petroleum Co. has a 1 year low of $55.04 and a 1 year high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts predict that Occidental Petroleum Co. will post 3.66 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.51%. Occidental Petroleum’s payout ratio is 24.04%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OXY. Wolfe Research started coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective for the company. Susquehanna increased their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Stephens reaffirmed an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday. Citigroup decreased their price target on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Finally, Scotiabank lowered their price target on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $72.06.

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, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.