Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Neuburgh Advisers LLC
Neuburgh Advisers LLC trimmed its holdings in Occidental Petroleum Co. (NYSE:OXY) by 57.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 15,808 shares of the oil and gas producer’s stock after selling 21,536 shares during the period. Neuburgh Advisers LLC’s holdings in Occidental Petroleum were worth $795,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its position in Occidental Petroleum by 238.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,150,909 shares of the oil and gas producer’s stock valued at $57,868,000 after buying an additional 810,550 shares during the last quarter. OppenheimerFunds Inc. increased its holdings in Occidental Petroleum by 35.6% in the 1st quarter. OppenheimerFunds Inc. now owns 1,020,876 shares of the oil and gas producer’s stock valued at $67,582,000 after purchasing an additional 268,067 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Occidental Petroleum by 13.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,027,862 shares of the oil and gas producer’s stock valued at $68,044,000 after purchasing an additional 125,245 shares during the last quarter. Covenant Multifamily Offices LLC acquired a new stake in Occidental Petroleum in the 2nd quarter valued at approximately $1,667,000. Finally, Alexandria Capital LLC raised its position in Occidental Petroleum by 7.5% in the second quarter. Alexandria Capital LLC now owns 43,823 shares of the oil and gas producer’s stock valued at $2,203,000 after purchasing an additional 3,071 shares during the period. 85.43% of the stock is owned by institutional investors.
In other Occidental Petroleum news, insider Oscar K. Brown bought 5,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $42.62 per share, with a total value of $213,100.00. Following the acquisition, the insider now directly owns 114,519 shares of the company’s stock, valued at approximately $4,880,799.78. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Margaret M. Foran purchased 1,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $43.15 per share, with a total value of $43,150.00. The disclosure for this purchase can be found here. Insiders bought a total of 37,600 shares of company stock valued at $1,768,776 over the last three months. Company insiders own 0.15% of the company’s stock.
Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.06. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.39 billion. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $1.10 EPS. Equities analysts anticipate that Occidental Petroleum Co. will post 2.94 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.79 per share. The ex-dividend date is Monday, September 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 6.85%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. Occidental Petroleum’s payout ratio is 63.07%.
Several research firms have recently commented on OXY. JPMorgan Chase & Co. started coverage on Occidental Petroleum in a research report on Tuesday, August 13th. They set an “underweight” rating and a $50.00 price target for the company. TheStreet cut Occidental Petroleum from a “b-” rating to a “c+” rating in a report on Friday, May 24th. Susquehanna Bancshares started coverage on Occidental Petroleum in a research report on Thursday, September 5th. They issued a “positive” rating and a $55.00 target price for the company. Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research note on Tuesday, August 27th. They set a “neutral” rating and a $52.50 price target on the stock. Finally, Wells Fargo & Co reduced their price target on shares of Occidental Petroleum from $53.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.93.
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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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