Meyer Handelman Co. Sells 8,700 Shares of Occidental Petroleum Co. (NYSE:OXY)

Meyer Handelman Co. lessened its position in Occidental Petroleum Co. (NYSE:OXY) by 25.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,960 shares of the oil and gas producer’s stock after selling 8,700 shares during the quarter. Meyer Handelman Co.’s holdings in Occidental Petroleum were worth $1,687,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OXY. VisionPoint Advisory Group LLC lifted its holdings in Occidental Petroleum by 1.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock valued at $957,000 after buying an additional 174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Occidental Petroleum by 0.8% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 23,523 shares of the oil and gas producer’s stock valued at $1,405,000 after buying an additional 185 shares in the last quarter. Strategic Advocates LLC lifted its holdings in Occidental Petroleum by 1.8% during the 4th quarter. Strategic Advocates LLC now owns 10,356 shares of the oil and gas producer’s stock valued at $618,000 after buying an additional 186 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Occidental Petroleum by 2.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,326 shares of the oil and gas producer’s stock valued at $475,000 after buying an additional 200 shares in the last quarter. Finally, Greatmark Investment Partners Inc. lifted its holdings in Occidental Petroleum by 1.5% during the 4th quarter. Greatmark Investment Partners Inc. now owns 13,180 shares of the oil and gas producer’s stock valued at $787,000 after buying an additional 200 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 2.4 %

NYSE:OXY opened at $60.92 on Friday. The company has a market cap of $54.01 billion, a PE ratio of 16.64 and a beta of 1.59. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The company’s 50 day moving average is $63.32 and its two-hundred day moving average is $61.51.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. Occidental Petroleum’s revenue was down 17.2% compared to the same quarter last year. Analysts anticipate that Occidental Petroleum Co. will post 3.87 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, June 10th. Occidental Petroleum’s payout ratio is 24.04%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was acquired at an average cost of $59.75 per share, for a total transaction of $19,984,044.75. Following the purchase, the insider now owns 255,281,524 shares in the company, valued at approximately $15,253,071,059. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders acquired 4,656,747 shares of company stock worth $278,664,028. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. HSBC started coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 price objective for the company. Barclays started coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Occidental Petroleum from $68.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday. Truist Financial downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and cut their target price for the company from $84.00 to $69.00 in a research report on Thursday, May 16th. Finally, StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Eleven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $71.56.

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.