Artemis Investment Management LLP Reduces Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Artemis Investment Management LLP decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 36.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 212,002 shares of the oil and gas producer’s stock after selling 121,491 shares during the quarter. Artemis Investment Management LLP’s holdings in Occidental Petroleum were worth $10,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Visionary Wealth Advisors raised its holdings in shares of Occidental Petroleum by 18.5% during the 4th quarter. Visionary Wealth Advisors now owns 18,579 shares of the oil and gas producer’s stock worth $1,109,000 after acquiring an additional 2,905 shares during the period. LM Advisors LLC purchased a new position in Occidental Petroleum during the fourth quarter worth about $295,000. Cantor Fitzgerald L. P. grew its stake in shares of Occidental Petroleum by 118.6% in the 4th quarter. Cantor Fitzgerald L. P. now owns 118,725 shares of the oil and gas producer’s stock valued at $7,089,000 after buying an additional 64,406 shares during the period. Bridgefront Capital LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $763,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at approximately $4,262,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In related 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 stock was 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 owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OXY shares. Barclays cut their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Mizuho reduced their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Truist Financial lowered their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Susquehanna decreased their price objective on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Finally, Wolfe Research began coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price for the company. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $67.18.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $53.90 on Thursday. The business has a 50-day simple moving average of $54.87 and a 200-day simple moving average of $60.45. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum Co. has a one year low of $49.75 and a one year high of $71.18. The company has a market cap of $47.79 billion, a PE ratio of 14.80 and a beta of 1.57.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping 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 company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that Occidental Petroleum Co. will post 3.49 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

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 dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) 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.