Occidental Petroleum Co. (NYSE:OXY) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC decreased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 72.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,681 shares of the oil and gas producer’s stock after selling 12,067 shares during the period. International Assets Investment Management LLC’s holdings in Occidental Petroleum were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in OXY. Orion Capital Management LLC bought a new position in shares of Occidental Petroleum in the third quarter valued at $27,000. TLW Wealth Management LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter valued at $28,000. Grove Bank & Trust boosted its position in shares of Occidental Petroleum by 86.0% in the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 240 shares during the period. Criterion Capital Advisors LLC purchased a new position in Occidental Petroleum in the 4th quarter worth about $34,000. Finally, BKM Wealth Management LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 1,386,844 shares of the stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $59.67 per share, for a total transaction of $82,752,981.48. Following the completion of the purchase, the insider now owns 250,583,605 shares in the company, valued at approximately $14,952,323,710.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired a total of 4,656,747 shares of company stock worth $278,664,028 in the last three months. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

NYSE OXY opened at $63.11 on Wednesday. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The stock has a market cap of $55.96 billion, a P/E ratio of 17.24 and a beta of 1.59. The company’s 50-day simple moving average is $63.14 and its 200 day simple moving average is $61.64. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same period last year, the business earned $1.09 earnings per share. The business’s revenue was down 17.2% on a year-over-year basis. As a group, research analysts forecast that Occidental Petroleum Co. will post 3.87 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Monday, June 10th. Occidental Petroleum’s payout ratio is currently 24.04%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $63.00 to $90.00 in a report on Thursday, April 11th. Morgan Stanley lifted their price target on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Citigroup reduced their price objective on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Finally, Wells Fargo & Company lifted their target price on Occidental Petroleum from $68.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, June 21st. Eleven analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.56.

Occidental Petroleum Profile

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.