AGF Management Ltd. Sells 4,238 Shares of Occidental Petroleum Co. (NYSE:OXY)

AGF Management Ltd. decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,295 shares of the oil and gas producer’s stock after selling 4,238 shares during the period. AGF Management Ltd.’s holdings in Occidental Petroleum were worth $2,351,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Investment Research & Advisory Group Inc. boosted its stake in shares of 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 valued at $25,000 after purchasing an additional 167 shares in the last quarter. LifeSteps Financial Inc. bought a new stake in shares of Occidental Petroleum during the 1st quarter valued at about $34,000. Able Wealth Management LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $38,000. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum during the 1st quarter valued at about $44,000. Finally, LRI Investments LLC bought a new stake in shares of Occidental Petroleum during the 1st quarter valued at about $44,000. Institutional investors own 88.70% of the company’s stock.

Insider Activity

In other 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 transaction of $697,125,000.00. Following the completion of the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’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 transaction of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Berkshire Hathaway Inc bought 334,461 shares of Occidental Petroleum stock in a transaction on Monday, June 17th. The shares were acquired at an average cost of $59.75 per share, with a total value of $19,984,044.75. Following the completion of the acquisition, the insider now owns 255,281,524 shares of the company’s stock, valued at approximately $15,253,071,059. The disclosure for this purchase can be found here. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OXY. Citigroup cut their target price on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Truist Financial dropped their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. UBS Group boosted their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Scotiabank dropped their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Wolfe Research initiated coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective on the stock. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $72.27.

Occidental Petroleum Stock Up 0.1 %

Shares of Occidental Petroleum stock opened at $51.05 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The stock has a market capitalization of $46.23 billion, a PE ratio of 13.95 and a beta of 1.58. Occidental Petroleum Co. has a 52-week low of $49.90 and a 52-week high of $71.18. The company has a 50-day simple moving average of $57.85 and a two-hundred day simple moving average of $61.57.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts anticipate that Occidental Petroleum Co. will post 3.71 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.72%. Occidental Petroleum’s payout ratio is 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.