Anchor Investment Management LLC Sells 665 Shares of Occidental Petroleum Co. (NYSE:OXY)

Anchor Investment Management LLC decreased its stake in Occidental Petroleum Co. (NYSE:OXY) by 32.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,385 shares of the oil and gas producer’s stock after selling 665 shares during the period. Anchor Investment Management LLC’s holdings in Occidental Petroleum were worth $87,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Investment Research & Advisory Group Inc. raised its holdings in shares of Occidental Petroleum by 75.2% in the 1st 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 during the period. LifeSteps Financial Inc. purchased a new stake in Occidental Petroleum in the first quarter worth $34,000. Able Wealth Management LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at $38,000. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum in the first quarter valued at $44,000. Finally, LRI Investments LLC purchased a new position in shares of Occidental Petroleum during the 1st quarter valued at $44,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of research reports. Evercore ISI lowered their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. StockNews.com lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a report on Wednesday. They issued a “neutral” rating and a $55.00 price objective for the company. 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 report on Friday, July 12th. Finally, 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. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $67.18.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by company insiders.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $55.76 on Friday. The business has a 50-day simple moving average of $55.08 and a 200 day simple moving average of $60.62. Occidental Petroleum Co. has a 52 week low of $49.75 and a 52 week high of $71.18. The stock has a market cap of $49.44 billion, a price-to-earnings ratio of 15.23 and a beta of 1.57. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. The company had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. Occidental Petroleum’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 earnings per share. On average, research analysts forecast that Occidental Petroleum Co. will post 3.57 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. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

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.