Perigon Wealth Management LLC Has $41.63 Million Stake in Occidental Petroleum Co. (NYSE:OXY)

Perigon Wealth Management LLC lessened its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 807,754 shares of the oil and gas producer's stock after selling 14,022 shares during the period. Occidental Petroleum comprises about 1.1% of Perigon Wealth Management LLC's portfolio, making the stock its 12th largest holding. Perigon Wealth Management LLC owned 0.09% of Occidental Petroleum worth $41,632,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. lifted its stake in shares of Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer's stock worth $233,687,000 after buying an additional 532,318 shares during the last quarter. Epoch Investment Partners Inc. lifted its stake in shares of Occidental Petroleum by 20.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer's stock worth $104,707,000 after buying an additional 277,462 shares during the last quarter. Himalaya Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the 2nd quarter worth about $92,433,000. Cooke & Bieler LP lifted its stake in shares of Occidental Petroleum by 53.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer's stock worth $91,398,000 after buying an additional 503,173 shares during the last quarter. Finally, Clean Energy Transition LLP acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth about $67,601,000. Institutional investors own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Susquehanna dropped their price objective on shares of Occidental Petroleum from $81.00 to $78.00 and set a "positive" rating for the company in a research note on Wednesday, September 4th. Mizuho dropped their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. UBS Group dropped their price objective on shares of Occidental Petroleum from $70.00 to $59.00 and set a "neutral" rating for the company in a research note on Wednesday, September 18th. Wolfe Research assumed coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They issued an "outperform" rating and a $81.00 price objective for the company. Finally, Barclays dropped their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating for the company in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $65.78.

Insiders Place Their Bets

In other Occidental Petroleum news, 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 transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares of the company's stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.31% of the company's stock.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock traded up $0.47 during midday trading on Thursday, hitting $51.73. 7,636,229 shares of the company traded hands, compared to its average volume of 9,150,332. The stock has a market cap of $45.87 billion, a price-to-earnings ratio of 14.13 and a beta of 1.57. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The firm's fifty day moving average price is $54.21 and its 200-day moving average price is $59.96. Occidental Petroleum Co. has a 12 month low of $49.75 and a 12 month high of $71.18.

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 (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the firm posted $0.68 EPS. The firm's revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that Occidental Petroleum Co. will post 3.49 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Tuesday, September 10th. Occidental Petroleum's payout ratio is 24.04%.

Occidental Petroleum 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.