Corient Private Wealth LLC Lowers Stake in Occidental Petroleum Corporation $OXY

Corient Private Wealth LLC lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,020 shares of the oil and gas producer’s stock after selling 11,005 shares during the period. Corient Private Wealth LLC’s holdings in Occidental Petroleum were worth $6,994,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of OXY. Lighthouse Investment Partners LLC acquired a new position in Occidental Petroleum during the third quarter worth $22,345,000. DNB Asset Management AS grew its position in shares of Occidental Petroleum by 100.3% in the third quarter. DNB Asset Management AS now owns 267,807 shares of the oil and gas producer’s stock valued at $12,654,000 after purchasing an additional 134,128 shares during the period. Mirabella Financial Services LLP increased its stake in shares of Occidental Petroleum by 154.7% during the third quarter. Mirabella Financial Services LLP now owns 29,566 shares of the oil and gas producer’s stock worth $1,394,000 after purchasing an additional 17,958 shares in the last quarter. National Pension Service raised its position in shares of Occidental Petroleum by 13.0% during the 4th quarter. National Pension Service now owns 1,084,356 shares of the oil and gas producer’s stock worth $44,589,000 after purchasing an additional 124,879 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Occidental Petroleum by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock valued at $3,696,716,000 after buying an additional 699,137 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity

In other news, CEO Richard A. Jackson acquired 4,770 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Occidental Petroleum Price Performance

NYSE:OXY opened at $51.14 on Friday. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The stock has a market cap of $50.87 billion, a PE ratio of 12.88 and a beta of 0.14. The stock has a 50 day moving average price of $56.47 and a 200 day moving average price of $51.79.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter last year, the business posted $0.14 earnings per share. The firm’s revenue was down 8.3% compared to the same quarter last year. Equities research analysts expect that Occidental Petroleum Corporation will post 5.79 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Occidental Petroleum’s payout ratio is presently 26.20%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on OXY shares. The Goldman Sachs Group upgraded Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $64.00 price objective on the stock in a report on Thursday, May 21st. Barclays upgraded Occidental Petroleum from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $59.00 to $72.00 in a research report on Tuesday, May 26th. Wolfe Research lifted their price target on Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Susquehanna increased their price objective on Occidental Petroleum from $60.00 to $67.00 and gave the company a “positive” rating in a research note on Tuesday, April 21st. Finally, Zacks Research lowered Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Monday. Nine analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.74.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.