Rhumbline Advisers Sells 23,982 Shares of Occidental Petroleum Co. (NYSE:OXY)

Rhumbline Advisers decreased its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,155,762 shares of the oil and gas producer's stock after selling 23,982 shares during the period. Rhumbline Advisers owned approximately 0.13% of Occidental Petroleum worth $72,848,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in OXY. Berkshire Hathaway Inc increased its position in Occidental Petroleum by 8.7% in 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 acquiring an additional 19,586,612 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 acquiring an additional 82,360 shares during the period. Epoch Investment Partners Inc. increased its stake in shares of Occidental Petroleum by 52.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer's stock valued at $83,568,000 after acquiring an additional 483,422 shares during the period. National Pension Service raised its holdings in Occidental Petroleum by 2.7% during the fourth 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 in the last quarter. Finally, Clean Energy Transition LLP acquired a new stake in Occidental Petroleum in the first quarter worth approximately $67,601,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Stock Down 1.6 %

NYSE OXY traded down $0.89 during trading on Thursday, reaching $53.74. 14,121,242 shares of the company's stock were exchanged, compared to its average volume of 8,391,105. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a fifty-two week low of $53.60 and a fifty-two week high of $71.18. The company's fifty day simple moving average is $59.18 and its 200-day simple moving average is $61.94. The firm has a market capitalization of $48.67 billion, a PE ratio of 14.68 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to analysts' expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.68 earnings per share. Sell-side analysts predict that Occidental Petroleum Co. will post 3.69 EPS for the current year.

Occidental Petroleum Announces Dividend

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 paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 24.04%.

Analyst Upgrades and Downgrades

OXY has been the topic of a number of research reports. Susquehanna dropped their price objective on Occidental Petroleum from $81.00 to $78.00 and set a "positive" rating on the stock in a research note on Wednesday. Wolfe Research started coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued an "outperform" rating and a $81.00 price target on the stock. UBS Group raised their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Scotiabank cut their target price on shares of Occidental Petroleum from $90.00 to $80.00 and set a "sector outperform" rating for the company in a research note on Friday, July 12th. Finally, Wells Fargo & Company decreased their price target on shares of Occidental Petroleum from $68.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Friday, August 9th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $71.50.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc bought 334,461 shares of the stock in a transaction on Monday, June 17th. The shares were purchased at an average price of $59.75 per share, for a total transaction of $19,984,044.75. Following the completion of the purchase, the insider now directly owns 255,281,524 shares of the company's stock, valued at approximately $15,253,071,059. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 334,461 shares of Occidental Petroleum stock in a transaction on Monday, June 17th. The stock was purchased at an average cost of $59.75 per share, for a total transaction of $19,984,044.75. Following the completion of the purchase, the insider now directly owns 255,281,524 shares of the company's stock, valued at $15,253,071,059. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm'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 transaction, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 4,132,407 shares of company stock worth $247,334,713. Corporate insiders own 0.31% of the company's stock.

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.