Venture Visionary Partners LLC Sells 1,835 Shares of Occidental Petroleum Co. (NYSE:OXY)

Venture Visionary Partners LLC decreased its position in Occidental Petroleum Co. (NYSE:OXYFree Report) by 11.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,697 shares of the oil and gas producer’s stock after selling 1,835 shares during the period. Venture Visionary Partners LLC’s holdings in Occidental Petroleum were worth $706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OXY. Investment Research & Advisory Group Inc. boosted its stake in shares of Occidental Petroleum by 75.2% in 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 during the last quarter. New Covenant Trust Company N.A. bought a new position in Occidental Petroleum in the first quarter valued at approximately $44,000. LRI Investments LLC acquired a new stake in Occidental Petroleum during the 1st quarter worth $44,000. Strategic Financial Concepts LLC acquired a new stake in Occidental Petroleum during the 2nd quarter worth $53,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $87,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction on 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 sale, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

OXY has been the topic of several recent research reports. Wolfe Research initiated coverage on Occidental Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price target on the stock. Evercore ISI reduced their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. Truist Financial lowered their price target on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. UBS Group reduced their price objective on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Finally, BMO Capital Markets lowered their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $65.72.

View Our Latest Stock Report on Occidental Petroleum

Occidental Petroleum Trading Up 0.5 %

OXY opened at $52.10 on Wednesday. The stock has a market capitalization of $47.18 billion, a P/E ratio of 12.83 and a beta of 1.57. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a 12 month low of $49.75 and a 12 month high of $71.18. The firm’s fifty day simple moving average is $53.83 and its 200 day simple moving average is $59.52.

Occidental Petroleum (NYSE:OXYGet Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 earnings per share. As a group, research analysts anticipate that Occidental Petroleum Co. will post 3.43 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. Occidental Petroleum’s dividend payout ratio is currently 21.67%.

Occidental Petroleum Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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