Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Joule Financial LLC

Joule Financial LLC raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,173 shares of the oil and gas producer’s stock after buying an additional 310 shares during the quarter. Joule Financial LLC’s holdings in Occidental Petroleum were worth $421,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. CapWealth Advisors LLC lifted its stake in shares of Occidental Petroleum by 2.7% in the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after acquiring an additional 162 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in Occidental Petroleum by 2.0% during the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock valued at $553,000 after purchasing an additional 164 shares during the last quarter. Investment Research & Advisory Group Inc. boosted 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 acquiring an additional 167 shares during the period. Earnest Partners LLC boosted its position in Occidental Petroleum by 2.6% during the 1st quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock valued at $445,000 after purchasing an additional 173 shares during the period. Finally, Proficio Capital Partners LLC grew its position in shares of Occidental Petroleum by 0.8% during the first quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock worth $1,359,000 after acquiring an additional 175 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Trading Down 1.0 %

OXY stock traded down $0.53 during midday trading on Friday, reaching $51.19. The stock had a trading volume of 3,980,813 shares, compared to its average volume of 9,122,268. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a twelve month low of $49.75 and a twelve month high of $71.18. The firm has a market cap of $45.39 billion, a price-to-earnings ratio of 14.13 and a beta of 1.57. The business has a fifty day simple moving average of $54.21 and a two-hundred day simple moving average of $59.96.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share 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 the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 EPS. As a group, research analysts expect that Occidental Petroleum Co. will post 3.49 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, September 10th. Occidental Petroleum’s payout ratio is 24.04%.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of research analyst reports. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target for the company. Truist Financial cut their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Stephens reaffirmed an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. Wolfe Research started coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective on the stock. Finally, Bank of America began coverage on Occidental Petroleum in a research note on Thursday. They set a “neutral” rating and a $57.00 price target for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.72.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were 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 approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

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.