Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) by 17.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,710 shares of the oil and gas producer's stock after selling 10,690 shares during the quarter. Intact Investment Management Inc.'s holdings in Occidental Petroleum were worth $3,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Berkshire Hathaway Inc lifted its holdings in shares of Occidental Petroleum by 8.7% during the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer's stock valued at $14,552,271,000 after buying an additional 19,586,612 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Occidental Petroleum by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer's stock worth $220,910,000 after purchasing an additional 82,360 shares during the period. Epoch Investment Partners Inc. raised its holdings in Occidental Petroleum by 52.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer's stock worth $83,568,000 after purchasing an additional 483,422 shares during the period. National Pension Service raised its holdings in Occidental Petroleum by 2.7% in the 4th quarter. National Pension Service now owns 1,342,292 shares of the oil and gas producer's stock worth $80,148,000 after purchasing an additional 34,786 shares during the period. Finally, Clean Energy Transition LLP bought a new position in Occidental Petroleum in the 1st quarter worth $67,601,000. 88.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 1,060,653 shares of the company's stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $59.59 per share, for a total transaction of $63,204,312.27. Following the completion of the transaction, the insider now directly owns 254,947,063 shares of the company's stock, valued at $15,192,295,484.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business's stock in a transaction that occurred on 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 transaction, the insider now owns 165,681,578 shares of the company's stock, valued at approximately $5,923,116,413.50. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 4,656,747 shares of company stock worth $278,664,028. Corporate insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of recent research reports. Citigroup decreased their target price on Occidental Petroleum from $69.00 to $65.00 and set a "neutral" rating on the stock in a report on Friday, May 24th. Stephens reaffirmed an "overweight" rating and issued a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. Scotiabank decreased their target price on Occidental Petroleum from $90.00 to $80.00 and set a "sector outperform" rating on the stock in a report on Friday, July 12th. Wells Fargo & Company decreased their price target on Occidental Petroleum from $68.00 to $65.00 and set an "equal weight" rating on the stock in a report on Friday, August 9th. Finally, Wolfe Research initiated coverage on Occidental Petroleum in a report on Thursday, July 18th. They set an "outperform" rating and a $81.00 price target on the stock. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $71.69.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock traded down $0.23 during trading on Friday, reaching $56.98. 9,622,330 shares of the stock traded hands, compared to its average volume of 8,303,792. The company has a market capitalization of $50.52 billion, a price-to-earnings ratio of 15.57 and a beta of 1.61. The business has a fifty day simple moving average of $59.80 and a two-hundred day simple moving average of $62.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. Occidental Petroleum Co. has a 52-week low of $55.04 and a 52-week high of $71.18.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data 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 firm 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%. The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 earnings per share. Sell-side analysts expect that Occidental Petroleum Co. will post 3.7 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a $0.22 dividend. 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 currently 24.04%.

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.