Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV grew its position in Occidental Petroleum Co. (NYSE:OXY) by 8.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,448 shares of the oil and gas producer’s stock after acquiring an additional 4,113 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Occidental Petroleum were worth $3,180,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of OXY. Investment Research & Advisory Group Inc. boosted its position in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 167 shares in the last quarter. LifeSteps Financial Inc. purchased a new position in shares of Occidental Petroleum during the 1st quarter valued at approximately $34,000. Able Wealth Management LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at $38,000. New Covenant Trust Company N.A. purchased a new stake in Occidental Petroleum in the 1st quarter worth $44,000. Finally, LRI Investments LLC acquired a new position in Occidental Petroleum during the first quarter worth $44,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. UBS Group reduced their target price on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Mizuho lowered their price target on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Truist Financial reduced their price objective on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Finally, Scotiabank lowered their target price on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $71.60.

Occidental Petroleum Stock Down 0.7 %

Shares of NYSE OXY opened at $51.64 on Monday. Occidental Petroleum Co. has a 1 year low of $49.90 and a 1 year high of $71.18. The company has a market capitalization of $45.79 billion, a P/E ratio of 14.11 and a beta of 1.58. The company has a 50 day simple moving average of $56.91 and a 200-day simple moving average of $61.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. On average, equities research analysts predict that Occidental Petroleum Co. will post 3.71 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid 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 (DPR) is presently 24.04%.

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.