Occidental Petroleum Corporation $OXY Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Occidental Petroleum Corporation (NYSE:OXY) by 50.9% during the 1st quarter, HoldingsChannel reports. The firm owned 15,919 shares of the oil and gas producer’s stock after selling 16,485 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Occidental Petroleum were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of OXY. ARS Investment Partners LLC purchased a new position in Occidental Petroleum during the first quarter worth approximately $233,000. Diversified Trust Co purchased a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $1,758,000. Lane Brothers & Co. Inc. acquired a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $273,000. Larry Mathis Financial Planning LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at approximately $223,000. Finally, PeakShares LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at $178,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Transactions at Occidental Petroleum

In other news, CEO Richard A. Jackson purchased 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OXY. The Goldman Sachs Group upgraded shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $64.00 target price on the stock in a research report on Thursday, May 21st. Wells Fargo & Company lifted their price target on Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Jefferies Financial Group boosted their price target on Occidental Petroleum from $47.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, April 13th. JPMorgan Chase & Co. dropped their price objective on shares of Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Finally, Truist Financial dropped their price target on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $63.74.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $51.08 on Thursday. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a fifty day simple moving average of $56.56 and a two-hundred day simple moving average of $51.73. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The company has a market cap of $50.81 billion, a price-to-earnings ratio of 12.87 and a beta of 0.14.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.46. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the firm earned $0.14 earnings per share. As a group, equities analysts anticipate that Occidental Petroleum Corporation will post 5.79 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a yield of 2.0%. Occidental Petroleum’s dividend payout ratio (DPR) is 26.20%.

Occidental Petroleum 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.