Occidental Petroleum Co. (NYSE:OXY) Stock Position Lifted by Asset Management Advisors LLC

Asset Management Advisors LLC grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,450 shares of the oil and gas producer’s stock after purchasing an additional 725 shares during the quarter. Occidental Petroleum makes up 5.7% of Asset Management Advisors LLC’s investment portfolio, making the stock its 6th largest holding. Asset Management Advisors LLC’s holdings in Occidental Petroleum were worth $7,403,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in OXY. CapWealth Advisors LLC grew its position in Occidental Petroleum by 2.7% during the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after buying an additional 162 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in shares of Occidental Petroleum by 2.0% during the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock worth $553,000 after purchasing an additional 164 shares in the last quarter. Investment Research & Advisory Group Inc. increased its position in shares of Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 167 shares during the last quarter. Earnest Partners LLC raised its stake in Occidental Petroleum by 2.6% in the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock valued at $445,000 after purchasing an additional 173 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Occidental Petroleum by 0.8% during the first quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock valued at $1,359,000 after purchasing an additional 175 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Up 1.0 %

NYSE:OXY traded up $0.57 during midday trading on Monday, reaching $58.98. 6,513,263 shares of the stock traded hands, compared to its average volume of 7,980,236. The stock has a market capitalization of $52.29 billion, a P/E ratio of 16.01 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.95. The company has a fifty day moving average of $60.81 and a 200 day moving average of $62.17. Occidental Petroleum Co. has a 12 month low of $55.04 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share 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 company had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the business posted $0.68 earnings per share. Occidental Petroleum’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, research analysts predict that Occidental Petroleum Co. will post 3.6 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.49%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 1,060,653 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average price of $59.59 per share, for a total transaction of $63,204,312.27. Following the completion of the acquisition, the insider now directly owns 254,947,063 shares in the company, valued at approximately $15,192,295,484.17. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 4,656,747 shares of company stock worth $278,664,028 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OXY shares. Wells Fargo & Company lowered their price objective on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday. Susquehanna raised their price target 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 reiterated an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a report on Thursday. Mizuho raised their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Finally, Scotiabank cut their target price on 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 equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $71.94.

About Occidental Petroleum

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.