Inlet Private Wealth LLC cut its holdings in Occidental Petroleum Co. (NYSE:OXY) by 23.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,764 shares of the oil and gas producer’s stock after selling 1,425 shares during the period. Inlet Private Wealth LLC’s holdings in Occidental Petroleum were worth $246,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. OppenheimerFunds Inc. raised its holdings in Occidental Petroleum by 35.6% in the 1st quarter. OppenheimerFunds Inc. now owns 1,020,876 shares of the oil and gas producer’s stock valued at $67,582,000 after acquiring an additional 268,067 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Occidental Petroleum by 13.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,027,862 shares of the oil and gas producer’s stock valued at $68,044,000 after acquiring an additional 125,245 shares during the last quarter. Gradient Investments LLC raised its holdings in Occidental Petroleum by 54.1% in the 2nd quarter. Gradient Investments LLC now owns 168,260 shares of the oil and gas producer’s stock valued at $8,460,000 after acquiring an additional 59,086 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in Occidental Petroleum by 27.6% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 7,400 shares of the oil and gas producer’s stock valued at $490,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Providence Wealth Advisors LLC raised its holdings in Occidental Petroleum by 18.3% in the 1st quarter. Providence Wealth Advisors LLC now owns 11,584 shares of the oil and gas producer’s stock valued at $774,000 after acquiring an additional 1,791 shares during the last quarter. Institutional investors own 81.32% of the company’s stock.
Shares of Occidental Petroleum stock opened at $52.76 on Thursday. The business’s fifty day simple moving average is $50.57. The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. Occidental Petroleum Co. has a twelve month low of $47.00 and a twelve month high of $84.55. The stock has a market cap of $38.44 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 2.96 and a beta of 0.83.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 5.99%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, September 9th. Occidental Petroleum’s dividend payout ratio is 62.28%.
A number of analysts have recently commented on OXY shares. Atlantic Securities downgraded Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 price objective for the company. in a report on Thursday, April 25th. Royal Bank of Canada upped their price objective on Occidental Petroleum to $76.00 in a report on Tuesday, May 7th. Jefferies Financial Group downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $74.00 to $66.00 in a report on Monday, April 29th. Morgan Stanley dropped their price objective on Occidental Petroleum from $55.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Finally, Mizuho downgraded Occidental Petroleum from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $83.00 to $70.00 in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $74.30.
In other Occidental Petroleum news, SVP Marcia E. Backus purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $48.09 per share, with a total value of $480,900.00. Following the transaction, the senior vice president now owns 101,248 shares in the company, valued at $4,869,016.32. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Avedick Baruyr Poladian acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was purchased at an average cost of $48.77 per share, with a total value of $243,850.00. Following the completion of the transaction, the director now owns 60,319 shares in the company, valued at $2,941,757.63. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 80,660 shares of company stock valued at $3,893,851. 0.15% of the stock is owned by corporate insiders.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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