Barden Capital Management Inc. Decreases Holdings in Occidental Petroleum Co. (NYSE:OXY)

Barden Capital Management Inc. reduced its stake in Occidental Petroleum Co. (NYSE:OXY) by 39.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 9,724 shares of the oil and gas producer’s stock after selling 6,314 shares during the quarter. Barden Capital Management Inc.’s holdings in Occidental Petroleum were worth $501,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in OXY. American Century Companies Inc. boosted its stake in Occidental Petroleum by 16.8% in the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after acquiring an additional 532,318 shares during the last quarter. Epoch Investment Partners Inc. grew its holdings in Occidental Petroleum by 20.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after purchasing an additional 277,462 shares during the period. Himalaya Capital Management LLC purchased a new stake in Occidental Petroleum in the second quarter worth $92,433,000. Cooke & Bieler LP raised its stake in shares of Occidental Petroleum by 53.1% in the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after buying an additional 503,173 shares during the period. Finally, Clean Energy Transition LLP purchased a new position in shares of Occidental Petroleum during the 1st quarter valued at $67,601,000. Institutional investors own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Mizuho lowered their price objective on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Wolfe Research began coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target on the stock. UBS Group dropped their target price on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. The Goldman Sachs Group assumed coverage on Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 target price for the company. Finally, Barclays lowered their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.72.

Occidental Petroleum Trading Down 0.1 %

NYSE OXY opened at $51.66 on Monday. The stock’s 50-day simple moving average is $54.08 and its two-hundred day simple moving average is $59.75. Occidental Petroleum Co. has a twelve month low of $49.75 and a twelve month high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $45.80 billion, a price-to-earnings ratio of 14.11 and a beta of 1.57.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the previous year, the company posted $0.68 EPS. Occidental Petroleum’s quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts forecast that Occidental Petroleum Co. will post 3.48 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th were given 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 yield of 1.70%. Occidental Petroleum’s payout ratio is 24.04%.

About Occidental Petroleum

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.