Occidental Petroleum Corporation $OXY Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lessened its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 74.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 15,313 shares of the oil and gas producer’s stock after selling 44,984 shares during the quarter. International Assets Investment Management LLC’s holdings in Occidental Petroleum were worth $724,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Woodline Partners LP lifted its holdings in Occidental Petroleum by 40.7% in the first quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after purchasing an additional 16,506 shares during the period. Ballentine Partners LLC increased its stake in Occidental Petroleum by 88.9% during the 2nd quarter. Ballentine Partners LLC now owns 8,089 shares of the oil and gas producer’s stock valued at $340,000 after buying an additional 3,806 shares during the period. Hartford Investment Management Co. raised its position in shares of Occidental Petroleum by 3.3% during the 2nd quarter. Hartford Investment Management Co. now owns 42,658 shares of the oil and gas producer’s stock worth $1,792,000 after buying an additional 1,380 shares in the last quarter. CX Institutional lifted its stake in shares of Occidental Petroleum by 28.0% in the 2nd quarter. CX Institutional now owns 8,792 shares of the oil and gas producer’s stock worth $369,000 after acquiring an additional 1,923 shares during the period. Finally, Strategic Investment Solutions Inc. IL raised its holdings in Occidental Petroleum by 28.0% during the second quarter. Strategic Investment Solutions Inc. IL now owns 2,420 shares of the oil and gas producer’s stock worth $102,000 after purchasing an additional 530 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OXY has been the subject of a number of research reports. Wall Street Zen lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Piper Sandler cut their price objective on Occidental Petroleum from $47.00 to $46.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. Scotiabank lowered their target price on Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating on the stock in a report on Friday, January 16th. Bank of America cut their price target on shares of Occidental Petroleum from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, December 11th. Finally, Wells Fargo & Company lowered their price objective on shares of Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $47.57.

Insiders Place Their Bets

In other news, Director William R. Klesse acquired 5,000 shares of the stock in a transaction on Tuesday, December 16th. The shares were purchased at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the transaction, the director owned 218,913 shares in the company, valued at approximately $8,533,228.74. This trade represents a 2.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Up 2.3%

Shares of NYSE OXY opened at $44.13 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. Occidental Petroleum Corporation has a 12 month low of $34.78 and a 12 month high of $52.58. The company has a market cap of $43.47 billion, a price-to-earnings ratio of 32.45 and a beta of 0.38. The business has a fifty day simple moving average of $41.66 and a 200-day simple moving average of $43.35.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The company had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. The business’s quarterly revenue was down 6.1% on a year-over-year basis. Sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 10th were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 70.59%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.