Threadgill Financial LLC Grows Position in Occidental Petroleum Co. (NYSE:OXY)

Threadgill Financial LLC lifted its position in Occidental Petroleum Co. (NYSE:OXY) by 221.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,456 shares of the oil and gas producer’s stock after buying an additional 12,034 shares during the quarter. Occidental Petroleum makes up approximately 1.1% of Threadgill Financial LLC’s portfolio, making the stock its 18th biggest holding. Threadgill Financial LLC’s holdings in Occidental Petroleum were worth $979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of OXY. Ironwood Wealth Management LLC. purchased a new stake in shares of Occidental Petroleum in the first quarter worth about $334,000. Cibc World Market Inc. lifted its holdings in shares of Occidental Petroleum by 47.2% in the first quarter. Cibc World Market Inc. now owns 55,697 shares of the oil and gas producer’s stock worth $3,160,000 after buying an additional 17,859 shares in the last quarter. Prudential PLC purchased a new stake in shares of Occidental Petroleum in the first quarter worth about $1,124,000. Sequoia Financial Advisors LLC bought a new position in shares of Occidental Petroleum in the first quarter worth approximately $313,000. Finally, Candriam Luxembourg S.C.A. increased its position in shares of Occidental Petroleum by 12.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 54,540 shares of the oil and gas producer’s stock worth $3,094,000 after purchasing an additional 6,018 shares during the last quarter. 77.54% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Down 0.3 %

Occidental Petroleum stock traded down $0.18 on Tuesday, hitting $66.14. 1,522,264 shares of the stock traded hands, compared to its average volume of 11,326,973. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.96. The firm has a market cap of $58.51 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 0.79 and a beta of 1.77. The business’s fifty day simple moving average is $62.99 and its 200 day simple moving average is $61.03. Occidental Petroleum Co. has a 1 year low of $55.51 and a 1 year high of $76.11.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). The firm had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.92 billion. Occidental Petroleum had a net margin of 21.36% and a return on equity of 31.59%. The business’s quarterly revenue was down 37.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.16 EPS. As a group, sell-side analysts forecast that Occidental Petroleum Co. will post 3.8 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.09%. Occidental Petroleum’s payout ratio is presently 12.22%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc purchased 638,301 shares of Occidental Petroleum stock in a transaction dated Monday, June 26th. The stock was purchased at an average cost of $57.01 per share, for a total transaction of $36,389,540.01. Following the completion of the acquisition, the insider now directly owns 222,629,243 shares of the company’s stock, valued at $12,692,093,143.43. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 638,301 shares of Occidental Petroleum stock in a transaction that occurred on Monday, June 26th. The stock was bought at an average cost of $57.01 per share, for a total transaction of $36,389,540.01. Following the acquisition, the insider now owns 222,629,243 shares of the company’s stock, valued at $12,692,093,143.43. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of Occidental Petroleum stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $25.00, for a total value of $127,500,000.00. Following the completion of the sale, the insider now owns 185,181,578 shares of the company’s stock, valued at $4,629,539,450. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the topic of several research analyst reports. 51job restated a “maintains” rating on shares of Occidental Petroleum in a research report on Tuesday, June 13th. Raymond James decreased their price objective on shares of Occidental Petroleum from $80.00 to $75.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 24th. Stephens restated an “overweight” rating and issued a $69.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, August 16th. Evercore ISI reduced their price target on shares of Occidental Petroleum from $60.00 to $59.00 in a research report on Monday, July 10th. Finally, Roth Mkm reiterated a “neutral” rating and set a $60.00 price target on shares of Occidental Petroleum in a research report on Tuesday, September 12th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $69.88.

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, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.