Ensign Peak Advisors Inc Has $17.91 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Ensign Peak Advisors Inc cut its position in Occidental Petroleum Co. (NYSE:OXY) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 284,192 shares of the oil and gas producer’s stock after selling 7,355 shares during the period. Ensign Peak Advisors Inc’s holdings in Occidental Petroleum were worth $17,913,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OXY. Westwood Holdings Group Inc. bought a new stake in Occidental Petroleum during the 2nd quarter valued at $345,000. Summit Trail Advisors LLC increased its position in shares of Occidental Petroleum by 18.1% during the second quarter. Summit Trail Advisors LLC now owns 4,026 shares of the oil and gas producer’s stock worth $255,000 after acquiring an additional 618 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Occidental Petroleum by 2.6% in 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 acquiring an additional 1,425 shares during the last quarter. AE Wealth Management LLC lifted its position in Occidental Petroleum by 45.1% in 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 acquiring an additional 3,363 shares in the last quarter. Finally, Bridges Investment Management Inc. acquired a new position in Occidental Petroleum during the 2nd quarter valued at about $1,155,000. 88.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on OXY shares. Stephens restated an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. Truist Financial cut their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, August 12th. UBS Group lowered their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company cut their price target on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $71.60.

Insider Buying and Selling at Occidental Petroleum

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

Occidental Petroleum Stock Performance

Shares of OXY opened at $52.24 on Tuesday. Occidental Petroleum Co. has a 1 year low of $49.90 and a 1 year high of $71.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The stock’s fifty day moving average price is $56.71 and its two-hundred day moving average price is $61.20. The firm has a market cap of $46.32 billion, a PE ratio of 14.27 and a beta of 1.58.

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

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Occidental Petroleum Company 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.