Gofen & Glossberg LLC IL Cuts Holdings in Occidental Petroleum Co. (NYSE:OXY)

Gofen & Glossberg LLC IL decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXYGet Rating) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,361 shares of the oil and gas producer’s stock after selling 500 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Occidental Petroleum were worth $4,791,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Addison Advisors LLC increased its holdings in Occidental Petroleum by 407.6% during the 1st quarter. Addison Advisors LLC now owns 533 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 428 shares during the period. Curi Wealth Management LLC boosted its position in shares of Occidental Petroleum by 3,000.0% in the 1st quarter. Curi Wealth Management LLC now owns 620 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 600 shares during the period. Point72 Hong Kong Ltd boosted its position in shares of Occidental Petroleum by 111.9% in the 4th quarter. Point72 Hong Kong Ltd now owns 1,415 shares of the oil and gas producer’s stock valued at $41,000 after purchasing an additional 13,315 shares during the period. Interactive Financial Advisors acquired a new stake in Occidental Petroleum during the 1st quarter worth approximately $41,000. Finally, Riverview Trust Co lifted its position in Occidental Petroleum by 498.8% during the 1st quarter. Riverview Trust Co now owns 976 shares of the oil and gas producer’s stock worth $55,000 after acquiring an additional 813 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Occidental Petroleum Stock Down 1.3 %

Shares of NYSE OXY opened at $61.88 on Friday. Occidental Petroleum Co. has a 1 year low of $26.05 and a 1 year high of $77.13. The firm has a market cap of $57.99 billion, a price-to-earnings ratio of 6.10, a PEG ratio of 0.37 and a beta of 1.83. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.91 and a current ratio of 1.07. The stock’s 50-day simple moving average is $65.44 and its 200-day simple moving average is $62.08.

Occidental Petroleum (NYSE:OXYGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The oil and gas producer reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.23. The firm had revenue of $10.74 billion during the quarter, compared to analyst estimates of $9.74 billion. Occidental Petroleum had a return on equity of 60.25% and a net margin of 32.25%. During the same period in the previous year, the company earned $0.32 earnings per share. As a group, equities analysts anticipate that Occidental Petroleum Co. will post 11.01 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, September 12th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, September 9th. Occidental Petroleum’s dividend payout ratio is currently 5.13%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wells Fargo & Company increased their price objective on Occidental Petroleum from $58.00 to $59.00 and gave the stock an “underweight” rating in a research report on Thursday, August 4th. Barclays dropped their price objective on Occidental Petroleum from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, August 31st. Bank of America dropped their price target on Occidental Petroleum from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, July 19th. MKM Partners restated a “neutral” rating and set a $65.00 price objective on shares of Occidental Petroleum in a report on Wednesday, July 20th. Finally, Mizuho reduced their target price on Occidental Petroleum from $89.00 to $84.00 and set a “buy” rating on the stock in a report on Tuesday, July 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $71.74.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 65,199 shares of the firm’s stock in a transaction on Wednesday, July 13th. The stock was bought at an average cost of $56.94 per share, for a total transaction of $3,712,431.06. Following the completion of the purchase, the insider now directly owns 179,741,891 shares in the company, valued at approximately $10,234,503,273.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of Occidental Petroleum stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $25.25, for a total value of $252,500,000.00. Following the completion of the transaction, the insider now directly owns 190,281,578 shares in the company, valued at $4,804,609,844.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Berkshire Hathaway Inc acquired 65,199 shares of Occidental Petroleum stock in a transaction dated Wednesday, July 13th. The shares were acquired at an average price of $56.94 per share, with a total value of $3,712,431.06. Following the completion of the transaction, the insider now owns 179,741,891 shares of the company’s stock, valued at approximately $10,234,503,273.54. The disclosure for this purchase can be found here. Insiders bought a total of 23,166,303 shares of company stock valued at $1,354,436,524 over the last three months. 0.31% of the stock is owned by insiders.

Occidental Petroleum Profile

(Get Rating)

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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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