PFG Advisors Has $1.37 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

PFG Advisors lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 8.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,652 shares of the oil and gas producer’s stock after selling 1,896 shares during the quarter. PFG Advisors’ holdings in Occidental Petroleum were worth $1,365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of OXY. Investment Research & Advisory Group Inc. increased its holdings in shares of Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 167 shares during the last quarter. LifeSteps Financial Inc. bought a new position in Occidental Petroleum during the first quarter worth $34,000. Able Wealth Management LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at $38,000. New Covenant Trust Company N.A. bought a new position in shares of Occidental Petroleum in the first quarter valued at about $44,000. Finally, LRI Investments LLC bought a new stake in shares of Occidental Petroleum during the 1st quarter worth about $44,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OXY shares. Susquehanna lowered their price target on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company dropped their price target on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. UBS Group upped their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Stephens reissued an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. Finally, Wolfe Research started coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $72.27.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $51.05 on Friday. The company’s 50 day simple moving average is $57.85 and its 200 day simple moving average is $61.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. Occidental Petroleum Co. has a 1 year low of $49.90 and a 1 year high of $71.18. The stock has a market capitalization of $46.23 billion, a price-to-earnings ratio of 13.95 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last posted 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. The company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. Occidental Petroleum’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 EPS. As a group, research analysts predict that Occidental Petroleum Co. will post 3.71 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 dividend yield of 1.72%. Occidental Petroleum’s payout ratio is currently 24.04%.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average price of $59.75 per share, for a total transaction of $19,984,044.75. Following the acquisition, the insider now directly owns 255,281,524 shares in the company, valued at $15,253,071,059. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

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.