Northstar Group Inc. Buys 3,852 Shares of Occidental Petroleum Co. (NYSE:OXY)

Northstar Group Inc. raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 55.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,839 shares of the oil and gas producer’s stock after purchasing an additional 3,852 shares during the period. Northstar Group Inc.’s holdings in Occidental Petroleum were worth $559,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Visionary Wealth Advisors increased its position in Occidental Petroleum by 18.5% in the 4th quarter. Visionary Wealth Advisors now owns 18,579 shares of the oil and gas producer’s stock valued at $1,109,000 after buying an additional 2,905 shares in the last quarter. LM Advisors LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter valued at approximately $295,000. Cantor Fitzgerald L. P. raised its position in shares of Occidental Petroleum by 118.6% during the fourth quarter. Cantor Fitzgerald L. P. now owns 118,725 shares of the oil and gas producer’s stock worth $7,089,000 after purchasing an additional 64,406 shares during the period. Bridgefront Capital LLC bought a new position in shares of Occidental Petroleum in the 4th quarter worth $763,000. Finally, Bayesian Capital Management LP bought a new stake in Occidental Petroleum during the 4th quarter valued at $4,262,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity

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 value of $697,125,000.00. Following the completion of the transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on OXY shares. Stephens reiterated an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a report on Thursday, August 8th. BMO Capital Markets decreased their price objective on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 4th. Wells Fargo & Company dropped their target price on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Wolfe Research began coverage on Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target for the company. Finally, UBS Group dropped their price objective on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $67.18.

Occidental Petroleum Price Performance

OXY stock traded up $0.49 during mid-day trading on Thursday, reaching $54.39. 756,096 shares of the company traded hands, compared to its average volume of 9,091,320. Occidental Petroleum Co. has a 52-week low of $49.75 and a 52-week high of $71.18. The company has a market capitalization of $48.22 billion, a P/E ratio of 14.73 and a beta of 1.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The company has a fifty day moving average price of $54.74 and a 200-day moving average price of $60.41.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. As a group, analysts anticipate that Occidental Petroleum Co. will post 3.49 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.62%. Occidental Petroleum’s payout ratio is currently 24.04%.

About Occidental Petroleum

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.