Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by Ameliora Wealth Management Ltd.

Ameliora Wealth Management Ltd. lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,482 shares of the oil and gas producer’s stock after purchasing an additional 450 shares during the period. Ameliora Wealth Management Ltd.’s holdings in Occidental Petroleum were worth $437,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Czech National Bank lifted its position in shares of Occidental Petroleum by 8.3% during the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after purchasing an additional 10,456 shares in the last quarter. Discovery Capital Management LLC CT acquired a new position in shares of Occidental Petroleum during the second quarter worth $10,331,000. Empyrean Capital Partners LP acquired a new position in shares of Occidental Petroleum during the second quarter worth $2,975,000. Swedbank AB acquired a new position in shares of Occidental Petroleum during the first quarter worth $12,547,000. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Occidental Petroleum in the second quarter worth $970,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on OXY shares. Wolfe Research started coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price target for the company. StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. Barclays dropped their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Truist Financial lowered their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Finally, Susquehanna lowered their target price on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.29.

Occidental Petroleum Stock Up 0.3 %

Shares of NYSE OXY traded up $0.19 during mid-day trading on Friday, reaching $54.76. The company had a trading volume of 9,436,822 shares, compared to its average volume of 9,126,629. The stock has a fifty day moving average of $54.58 and a two-hundred day moving average of $60.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The company has a market capitalization of $48.55 billion, a price-to-earnings ratio of 14.96 and a beta of 1.57. Occidental Petroleum Co. has a 12-month low of $49.75 and a 12-month high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. As a group, equities research analysts expect that Occidental Petroleum Co. will post 3.49 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s payout ratio is presently 24.04%.

Insider Activity at Occidental Petroleum

In related 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 transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

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.