Financial Sense Advisors Inc. Sells 67,726 Shares of Occidental Petroleum Co. (NYSE:OXY)

Financial Sense Advisors Inc. cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 85.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,253 shares of the oil and gas producer’s stock after selling 67,726 shares during the quarter. Financial Sense Advisors Inc.’s holdings in Occidental Petroleum were worth $731,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Trust Co. of Oklahoma increased its stake in Occidental Petroleum by 23.5% in the first quarter. Trust Co. of Oklahoma now owns 4,367 shares of the oil and gas producer’s stock valued at $284,000 after purchasing an additional 832 shares in the last quarter. Carret Asset Management LLC grew its holdings in shares of Occidental Petroleum by 17.8% in the 1st quarter. Carret Asset Management LLC now owns 5,326 shares of the oil and gas producer’s stock valued at $346,000 after buying an additional 805 shares during the period. Stapp Wealth Management Pllc increased its position in shares of Occidental Petroleum by 5.8% in the 1st quarter. Stapp Wealth Management Pllc now owns 20,652 shares of the oil and gas producer’s stock valued at $1,342,000 after buying an additional 1,138 shares in the last quarter. Kiley Juergens Wealth Management LLC acquired a new stake in Occidental Petroleum during the 1st quarter worth $734,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Occidental Petroleum by 139.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 78,529 shares of the oil and gas producer’s stock worth $5,104,000 after acquiring an additional 45,722 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 1,386,844 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $59.67 per share, with a total value of $82,752,981.48. Following the acquisition, the insider now owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired a total of 4,656,747 shares of company stock valued at $278,664,028 over the last three months. Insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Occidental Petroleum from $68.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, June 21st. Barclays began coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price on the stock. Truist Financial cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price target for the company from $84.00 to $69.00 in a report on Thursday, May 16th. Morgan Stanley raised their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, HSBC started coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $71.56.

Occidental Petroleum Stock Down 0.1 %

OXY stock opened at $62.32 on Thursday. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The company has a market cap of $55.26 billion, a price-to-earnings ratio of 17.02 and a beta of 1.61. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average price of $62.76 and a two-hundred day moving average price of $61.83.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The firm had revenue of $6.01 billion for 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 quarterly revenue was down 17.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 earnings per share. Analysts anticipate that Occidental Petroleum Co. will post 3.88 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be paid a $0.22 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.88 annualized dividend and a yield of 1.41%. 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.