Rathbones Group PLC Has $853,000 Stake in Occidental Petroleum Co. (NYSE:OXY)

Rathbones Group PLC cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 5.5% in the second quarter, Holdings Channel.com reports. The firm owned 13,540 shares of the oil and gas producer’s stock after selling 795 shares during the quarter. Rathbones Group PLC’s holdings in Occidental Petroleum were worth $853,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc boosted its position in shares of Occidental Petroleum by 8.7% during the fourth quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock worth $14,552,271,000 after buying an additional 19,586,612 shares during the period. American Century Companies Inc. boosted its position in Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after acquiring an additional 532,318 shares during the last quarter. Cooke & Bieler LP grew its stake in shares of Occidental Petroleum by 53.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock worth $91,398,000 after acquiring an additional 503,173 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Occidental Petroleum by 52.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer’s stock valued at $83,568,000 after purchasing an additional 483,422 shares during the last quarter. Finally, Clean Energy Transition LLP bought a new stake in shares of Occidental Petroleum in the first quarter worth $67,601,000. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of analyst reports. Wolfe Research initiated coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price for the company. Susquehanna lowered their target price on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Scotiabank reduced their price target on Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company lowered their price target on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Finally, Stephens reissued an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a report on Thursday, August 8th. Nine equities research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $72.33.

Insiders Place Their Bets

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

NYSE:OXY opened at $51.30 on Tuesday. The firm’s fifty day moving average price is $57.66 and its two-hundred day moving average price is $61.52. 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 market cap of $46.45 billion, a P/E ratio of 14.02 and a beta of 1.58. Occidental Petroleum Co. has a one year low of $49.90 and a one year high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the prior year, the firm earned $0.68 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Equities analysts expect that Occidental Petroleum Co. will post 3.71 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed 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. This represents a $0.88 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is 24.04%.

Occidental Petroleum Company 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.