Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Fortem Financial Group LLC

Fortem Financial Group LLC reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 12.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,950 shares of the oil and gas producer’s stock after selling 2,733 shares during the period. Fortem Financial Group LLC’s holdings in Occidental Petroleum were worth $1,194,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc boosted its holdings in shares of Occidental Petroleum by 8.7% in the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after buying an additional 19,586,612 shares during the period. Clean Energy Transition LLP acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth approximately $67,601,000. Sarasin & Partners LLP bought a new stake in shares of Occidental Petroleum in the 2nd quarter worth approximately $63,880,000. Scharf Investments LLC acquired a new position in Occidental Petroleum during the 2nd quarter valued at approximately $42,744,000. Finally, TD Asset Management Inc increased its position in Occidental Petroleum by 237.9% in the fourth quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock worth $45,192,000 after buying an additional 532,847 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Insider Activity at Occidental Petroleum

In related news, 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 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 directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction dated 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 completion of the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Berkshire Hathaway Inc acquired 584,550 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of $60.26 per share, for a total transaction of $35,224,983.00. Following the acquisition, the insider now directly owns 251,168,155 shares of the company’s stock, valued at approximately $15,135,393,020.30. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 4,132,407 shares of company stock valued at $247,334,713. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

OXY has been the subject of several recent research reports. Truist Financial dropped their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Wolfe Research assumed coverage on Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective for the company. Stephens reaffirmed an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday, August 8th. Mizuho raised their price target on Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Finally, Citigroup reduced their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average target price of $71.69.

Occidental Petroleum Trading Down 2.8 %

Shares of OXY opened at $55.40 on Wednesday. The business’s 50-day moving average price is $59.52 and its 200 day moving average price is $62.05. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $49.12 billion, a P/E ratio of 15.14 and a beta of 1.61. Occidental Petroleum Co. has a 1-year low of $55.04 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS 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 during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts expect that Occidental Petroleum Co. will post 3.69 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.59%. Occidental Petroleum’s dividend 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.