Banco Santander S.A. trimmed its stake in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 97.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,430 shares of the oil and gas producer's stock after selling 135,154 shares during the period. Banco Santander S.A.'s holdings in Occidental Petroleum were worth $216,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Investment Research & Advisory Group Inc. grew its holdings in shares of Occidental Petroleum by 75.2% during 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 in the last quarter. LifeSteps Financial Inc. bought a new stake in Occidental Petroleum in the 1st quarter valued at $34,000. Able Wealth Management LLC bought a new stake in Occidental Petroleum in the 4th quarter valued at $38,000. New Covenant Trust Company N.A. acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at $44,000. Finally, LRI Investments LLC bought a new position in shares of Occidental Petroleum during the 1st quarter worth about $44,000. Institutional investors own 88.70% of the company's stock.
Occidental Petroleum Trading Up 0.7 %
NYSE:OXY traded up $0.42 during mid-day trading on Thursday, hitting $57.20. The company had a trading volume of 9,449,233 shares, compared to its average volume of 8,295,938. The firm has a market cap of $50.72 billion, a P/E ratio of 15.63 and a beta of 1.61. Occidental Petroleum Co. has a fifty-two week low of $55.04 and a fifty-two week high of $71.18. The business's fifty day moving average is $59.99 and its two-hundred day moving average is $62.08. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share 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 the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. Occidental Petroleum's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. As a group, research analysts expect that Occidental Petroleum Co. will post 3.7 earnings per share for the current year.
Occidental Petroleum Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.54%. Occidental Petroleum's dividend payout ratio is presently 24.04%.
Insider Buying and Selling at Occidental Petroleum
In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 765,899 shares of the company's stock in a transaction dated Wednesday, June 12th. The shares were bought at an average price of $60.28 per share, with a total value of $46,168,391.72. Following the completion of the transaction, the insider now directly owns 252,333,913 shares in the company, valued at approximately $15,210,688,275.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Berkshire Hathaway Inc acquired 765,899 shares of the stock in a transaction dated Wednesday, June 12th. The stock was bought at an average price of $60.28 per share, with a total value of $46,168,391.72. Following the completion of the transaction, the insider now directly owns 252,333,913 shares of the company's stock, valued at $15,210,688,275.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 4,656,747 shares of company stock valued at $278,664,028. Company insiders own 0.31% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on OXY shares. Citigroup dropped their price target on shares of Occidental Petroleum from $69.00 to $65.00 and set a "neutral" rating for the company in a research report on Friday, May 24th. Wolfe Research assumed coverage on Occidental Petroleum in a report on Thursday, July 18th. They issued an "outperform" rating and a $81.00 target price for the company. UBS Group boosted their price target on Occidental Petroleum from $69.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Mizuho increased their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 8th. Finally, Truist Financial reduced their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a "hold" rating on the stock in a research note on Monday, August 12th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $71.69.
Check Out Our Latest Stock Analysis on Occidental Petroleum
About Occidental Petroleum
(
Free Report)
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.
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