Trust Co. of Oklahoma Sells 326 Shares of Occidental Petroleum Co. (NYSE:OXY)

Trust Co. of Oklahoma cut its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,040 shares of the oil and gas producer’s stock after selling 326 shares during the period. Trust Co. of Oklahoma’s holdings in Occidental Petroleum were worth $208,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of OXY. Himalaya Capital Management LLC bought a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $92,433,000. Clean Energy Transition LLP bought a new stake in Occidental Petroleum in the first quarter valued at $67,601,000. Sarasin & Partners LLP bought a new stake in Occidental Petroleum in the second quarter valued at $63,880,000. Scharf Investments LLC bought a new stake in Occidental Petroleum in the second quarter valued at $42,744,000. Finally, American Century Companies Inc. grew its position 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 period. 88.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OXY shares. Truist Financial lowered their price target on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. UBS Group lowered their price target 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. Barclays decreased their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Susquehanna decreased their target price on Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Finally, BMO Capital Markets decreased their target price on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $66.29.

Occidental Petroleum Trading Down 3.8 %

Shares of OXY traded down $2.06 during trading hours on Tuesday, hitting $51.85. 11,204,644 shares of the stock traded hands, compared to its average volume of 9,142,486. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. Occidental Petroleum Co. has a 1-year low of $49.75 and a 1-year high of $71.18. The firm has a market capitalization of $45.97 billion, a PE ratio of 14.23 and a beta of 1.57. The business has a fifty day moving average of $54.54 and a 200-day moving average of $60.17.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts expect that Occidental Petroleum Co. will post 3.49 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s payout ratio is 24.04%.

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.