Csenge Advisory Group Lowers Stake in Occidental Petroleum Co. (NYSE:OXY)

Csenge Advisory Group lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 20.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,791 shares of the oil and gas producer’s stock after selling 960 shares during the period. Csenge Advisory Group’s holdings in Occidental Petroleum were worth $246,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Investment Research & Advisory Group Inc. lifted its holdings in Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 167 shares in the last quarter. TLW Wealth Management LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at $28,000. Grove Bank & Trust raised 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 in the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at $34,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 1,386,844 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average cost of $59.67 per share, for a total transaction of $82,752,981.48. Following the completion of the acquisition, the insider now owns 250,583,605 shares in the company, valued at $14,952,323,710.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 4,656,747 shares of company stock valued at $278,664,028 over the last 90 days. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the topic of several research analyst reports. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Truist Financial downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $84.00 to $69.00 in a research report on Thursday, May 16th. Mizuho raised their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. HSBC assumed coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 price objective on the stock. Finally, Citigroup lowered their target price 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. Eleven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $72.40.

Occidental Petroleum Stock Performance

Shares of OXY opened at $61.48 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The stock has a market cap of $54.51 billion, a P/E ratio of 16.80 and a beta of 1.61. The company has a 50-day moving average of $62.05 and a two-hundred day moving average of $61.87. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The company’s revenue was down 17.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.09 earnings per share. As a group, research analysts predict that Occidental Petroleum Co. will post 3.91 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Monday, June 10th. Occidental Petroleum’s dividend payout ratio is presently 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.