Perigon Wealth Management LLC Sells 14,022 Shares of Occidental Petroleum Co. (NYSE:OXY)

Perigon Wealth Management LLC reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 807,754 shares of the oil and gas producer’s stock after selling 14,022 shares during the period. Occidental Petroleum comprises 1.1% of Perigon Wealth Management LLC’s investment portfolio, making the stock its 12th largest holding. Perigon Wealth Management LLC owned approximately 0.09% of Occidental Petroleum worth $41,632,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in OXY. Cornerstone Wealth Management LLC acquired a new stake in Occidental Petroleum during the 3rd quarter valued at approximately $258,000. Vontobel Holding Ltd. increased its position in Occidental Petroleum by 389.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 78,802 shares of the oil and gas producer’s stock valued at $4,061,000 after purchasing an additional 62,716 shares during the period. Jamison Private Wealth Management Inc. increased its position in Occidental Petroleum by 108.4% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 6,367 shares of the oil and gas producer’s stock valued at $328,000 after purchasing an additional 3,312 shares during the period. Swedbank AB increased its position in Occidental Petroleum by 50.7% during the 3rd quarter. Swedbank AB now owns 282,054 shares of the oil and gas producer’s stock valued at $14,537,000 after purchasing an additional 94,856 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Occidental Petroleum by 9.4% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,015 shares of the oil and gas producer’s stock valued at $465,000 after purchasing an additional 771 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Insider Transactions at Occidental Petroleum

In other news, 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 shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

OXY stock traded up $0.11 during midday trading on Thursday, reaching $51.37. The company had a trading volume of 1,478,911 shares, compared to its average volume of 9,119,727. 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 $49.75 and a 1 year high of $71.18. The company has a market capitalization of $45.55 billion, a P/E ratio of 14.01 and a beta of 1.57. The firm has a 50-day moving average price of $54.35 and a 200-day moving average price of $60.02.

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. The business had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 EPS. On average, research analysts anticipate that Occidental Petroleum Co. will post 3.49 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th were issued a $0.22 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.71%. Occidental Petroleum’s payout ratio is 24.04%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Mizuho cut their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective on the stock. Susquehanna lowered their price objective on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. BMO Capital Markets lowered their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Finally, Truist Financial lowered their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average price target of $65.78.

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.