Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Symmetry Investments LP

Symmetry Investments LP lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 71.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,526 shares of the oil and gas producer’s stock after selling 137,302 shares during the period. Symmetry Investments LP’s holdings in Occidental Petroleum were worth $3,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Auxier Asset Management grew its stake in Occidental Petroleum by 91.5% in the 2nd quarter. Auxier Asset Management now owns 7,117 shares of the oil and gas producer’s stock valued at $449,000 after acquiring an additional 3,400 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $345,000. Summit Trail Advisors LLC increased its stake in shares of Occidental Petroleum by 18.1% during the 2nd quarter. Summit Trail Advisors LLC now owns 4,026 shares of the oil and gas producer’s stock worth $255,000 after purchasing an additional 618 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Occidental Petroleum by 2.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 57,093 shares of the oil and gas producer’s stock worth $3,599,000 after purchasing an additional 1,425 shares during the last quarter. Finally, AE Wealth Management LLC grew its holdings in Occidental Petroleum by 45.1% during the 2nd quarter. AE Wealth Management LLC now owns 10,813 shares of the oil and gas producer’s stock valued at $682,000 after buying an additional 3,363 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $51.64 on Friday. Occidental Petroleum Co. has a twelve month low of $49.90 and a twelve month high of $71.18. The firm has a market capitalization of $46.77 billion, a price-to-earnings ratio of 14.11 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The firm’s fifty day simple moving average is $56.91 and its 200 day simple moving average is $61.26.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts expect that Occidental Petroleum Co. will post 3.71 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.70%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

OXY has been the subject of a number of analyst reports. Susquehanna cut their price target on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Citigroup reduced their target price on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Truist Financial cut their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Scotiabank lowered their target price on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $71.60.

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.