Levin Capital Strategies L.P. Acquires Shares of 5,095 Occidental Petroleum Co. (NYSE:OXY)

Levin Capital Strategies L.P. bought a new position in shares of Occidental Petroleum Co. (NYSE:OXY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,095 shares of the oil and gas producer’s stock, valued at approximately $321,000.

A number of other institutional investors have also modified their holdings of the business. Investment Research & Advisory Group Inc. increased its stake in Occidental Petroleum by 75.2% in the first 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 period. LifeSteps Financial Inc. acquired a new position in Occidental Petroleum in the 1st quarter valued at about $34,000. Able Wealth Management LLC purchased a new stake in Occidental Petroleum during the 4th quarter valued at approximately $38,000. New Covenant Trust Company N.A. acquired a new stake in Occidental Petroleum during the 1st quarter worth approximately $44,000. Finally, LRI Investments LLC purchased a new position in shares of Occidental Petroleum in the 1st quarter valued at approximately $44,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on OXY shares. Stephens reissued an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a research note on Thursday, August 8th. Susquehanna dropped their price target on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Wolfe Research assumed coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective for the company. UBS Group boosted their target price on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Truist Financial reduced their target price on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a report on Monday, August 12th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $71.50.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’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 completion of the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 1,060,653 shares of the business’s stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $59.59 per share, with a total value of $63,204,312.27. Following the transaction, the insider now directly owns 254,947,063 shares in the company, valued at approximately $15,192,295,484.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’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 sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The disclosure for this sale can be found here. Insiders purchased a total of 2,161,013 shares of company stock worth $129,356,749 in the last 90 days. 0.31% of the stock is owned by company insiders.

Occidental Petroleum Trading Up 0.3 %

NYSE OXY opened at $52.19 on Tuesday. 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 $51.79 and a one year high of $71.18. The company’s 50 day moving average price is $58.75 and its 200 day moving average price is $61.85. The firm has a market capitalization of $47.26 billion, a price-to-earnings ratio of 14.26 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last posted its 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 business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts predict that Occidental Petroleum Co. will post 3.66 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 1.69%. Occidental Petroleum’s payout ratio is currently 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.