Pittenger & Anderson Inc. Buys New Holdings in Occidental Petroleum Co. (NYSE:OXY)

Pittenger & Anderson Inc. bought a new stake in Occidental Petroleum Co. (NYSE:OXYGet Rating) in the second quarter, Holdings Channel reports. The institutional investor bought 2,750 shares of the oil and gas producer’s stock, valued at approximately $162,000.

Other hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its position in shares of Occidental Petroleum by 1.5% during the 1st quarter. Lazard Asset Management LLC now owns 11,920 shares of the oil and gas producer’s stock valued at $676,000 after acquiring an additional 180 shares during the period. Lincoln National Corp lifted its position in shares of Occidental Petroleum by 3.0% during the 1st quarter. Lincoln National Corp now owns 7,571 shares of the oil and gas producer’s stock valued at $430,000 after acquiring an additional 222 shares during the period. IndexIQ Advisors LLC lifted its position in shares of Occidental Petroleum by 5.7% during the 1st quarter. IndexIQ Advisors LLC now owns 4,180 shares of the oil and gas producer’s stock valued at $237,000 after acquiring an additional 224 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Occidental Petroleum by 5.5% during the 1st quarter. Quadrant Capital Group LLC now owns 4,728 shares of the oil and gas producer’s stock worth $268,000 after buying an additional 245 shares in the last quarter. Finally, Lido Advisors LLC raised its holdings in shares of Occidental Petroleum by 2.6% during the 1st quarter. Lido Advisors LLC now owns 9,937 shares of the oil and gas producer’s stock worth $563,000 after buying an additional 250 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Down 1.3 %

Shares of NYSE:OXY opened at $61.88 on Friday. The business’s 50 day simple moving average is $65.44 and its two-hundred day simple moving average is $62.08. The firm has a market cap of $57.99 billion, a P/E ratio of 6.10, a PEG ratio of 0.37 and a beta of 1.83. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.91 and a current ratio of 1.07. Occidental Petroleum Co. has a 52-week low of $26.05 and a 52-week high of $77.13.

Occidental Petroleum (NYSE:OXYGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.23. The business had revenue of $10.74 billion for the quarter, compared to analyst estimates of $9.74 billion. Occidental Petroleum had a return on equity of 60.25% and a net margin of 32.25%. During the same quarter in the prior year, the company earned $0.32 earnings per share. As a group, research analysts forecast that Occidental Petroleum Co. will post 11.01 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, September 12th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, September 9th. This represents a $0.52 annualized dividend and a yield of 0.84%. Occidental Petroleum’s payout ratio is currently 5.13%.

Analyst Ratings Changes

OXY has been the subject of a number of research analyst reports. Mizuho lowered their price target on Occidental Petroleum from $89.00 to $84.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. Tudor Pickering cut Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Truist Financial boosted their price target on Occidental Petroleum from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, July 19th. Barclays lowered their price target on Occidental Petroleum from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, August 31st. Finally, Morgan Stanley boosted their price target on Occidental Petroleum from $70.00 to $76.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $71.74.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc acquired 65,199 shares of the stock in a transaction dated Wednesday, July 13th. The stock was purchased at an average cost of $56.94 per share, with a total value of $3,712,431.06. Following the completion of the purchase, the insider now directly owns 179,741,891 shares in the company, valued at approximately $10,234,503,273.54. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $25.25, for a total transaction of $252,500,000.00. Following the completion of the sale, the insider now directly owns 190,281,578 shares of the company’s stock, valued at $4,804,609,844.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Berkshire Hathaway Inc purchased 65,199 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The shares were acquired at an average cost of $56.94 per share, with a total value of $3,712,431.06. Following the completion of the transaction, the insider now directly owns 179,741,891 shares of the company’s stock, valued at approximately $10,234,503,273.54. The disclosure for this purchase can be found here. Insiders purchased a total of 23,166,303 shares of company stock valued at $1,354,436,524 over the last ninety days. 0.31% of the stock is currently owned by insiders.

Occidental Petroleum Company Profile

(Get Rating)

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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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