True North Advisors LLC Acquires 1,923 Shares of Occidental Petroleum Co. (NYSE:OXY)

True North Advisors LLC raised its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 44.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,272 shares of the oil and gas producer’s stock after purchasing an additional 1,923 shares during the quarter. True North Advisors LLC’s holdings in Occidental Petroleum were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Investment Research & Advisory Group Inc. raised 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 valued at $25,000 after purchasing an additional 167 shares in the last quarter. Able Wealth Management LLC bought a new stake in Occidental Petroleum during the 4th quarter valued at $38,000. New Covenant Trust Company N.A. purchased a new stake in Occidental Petroleum during the 1st quarter valued at $44,000. LRI Investments LLC bought a new stake in Occidental Petroleum in the 1st quarter worth $44,000. Finally, Strategic Financial Concepts LLC bought a new position in Occidental Petroleum during the 2nd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $53.98 on Wednesday. The firm’s fifty day moving average is $54.87 and its two-hundred day moving average is $60.45. Occidental Petroleum Co. has a 52-week low of $49.75 and a 52-week high of $71.18. The company has a market cap of $47.86 billion, a P/E ratio of 14.84 and a beta of 1.57. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. Occidental Petroleum’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 earnings per share. As a group, analysts anticipate that Occidental Petroleum Co. will post 3.49 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s payout ratio is presently 24.04%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OXY shares. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday. Evercore ISI decreased their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Monday, September 30th. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target on the stock. Stephens reiterated an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a research note on Thursday, August 8th. Finally, UBS Group reduced their price target on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average target price 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 business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by insiders.

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.