Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 17.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,286 shares of the oil and gas producer’s stock after selling 7,470 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Occidental Petroleum were worth $2,293,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Investment Research & Advisory Group Inc. boosted its position in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 167 shares during the last quarter. Orion Capital Management LLC acquired a new stake in Occidental Petroleum during the third quarter worth approximately $27,000. TLW Wealth Management LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth approximately $28,000. Grove Bank & Trust boosted its holdings in shares of Occidental Petroleum by 86.0% in the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 240 shares during the last quarter. Finally, Criterion Capital Advisors LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Susquehanna lifted their price target on shares of Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Wells Fargo & Company lifted their price target on shares of Occidental Petroleum from $68.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, June 21st. Barclays assumed coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price target on the stock. Citigroup decreased their price target on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Finally, Truist Financial lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their price target for the company from $84.00 to $69.00 in a report on Thursday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $71.56.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $62.30 on Thursday. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18. The company has a market capitalization of $55.24 billion, a price-to-earnings ratio of 17.02 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71. The firm’s fifty day moving average price is $62.76 and its 200 day moving average price is $61.83.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The firm’s quarterly revenue was down 17.2% on a year-over-year basis. On average, research analysts forecast that Occidental Petroleum Co. will post 3.88 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.41%. The ex-dividend date is Monday, June 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc acquired 1,386,844 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was bought at an average cost of $59.67 per share, with a total value of $82,752,981.48. Following the acquisition, the insider now directly owns 250,583,605 shares in the company, valued at $14,952,323,710.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 4,656,747 shares of company stock valued at $278,664,028 in the last ninety days. Corporate insiders own 0.48% of the company’s stock.

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.