Candriam S.C.A. Sells 208 Shares of Occidental Petroleum Co. (NYSE:OXY)

Candriam S.C.A. cut its holdings in Occidental Petroleum Co. (NYSE:OXY) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,462 shares of the oil and gas producer’s stock after selling 208 shares during the period. Candriam S.C.A.’s holdings in Occidental Petroleum were worth $2,550,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Berkshire Hathaway Inc boosted its holdings in shares of Occidental Petroleum by 8.7% during 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 purchasing an additional 19,586,612 shares during the last quarter. Clean Energy Transition LLP purchased a new position in shares of Occidental Petroleum in the first quarter valued at $67,601,000. Sarasin & Partners LLP purchased a new position in shares of Occidental Petroleum in the 2nd quarter worth $63,880,000. Scharf Investments LLC purchased a new position in Occidental Petroleum in the second quarter worth about $42,744,000. Finally, TD Asset Management Inc increased its stake in Occidental Petroleum by 237.9% during 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 acquiring an additional 532,847 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Trading Up 0.3 %

Occidental Petroleum stock opened at $52.19 on Tuesday. Occidental Petroleum Co. has a one year low of $51.79 and a one year high of $71.18. The stock has a market cap of $47.26 billion, a PE ratio of 14.26 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The stock has a 50-day moving average of $58.75 and a two-hundred day moving average of $61.85.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. Occidental Petroleum’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. On average, research analysts anticipate that Occidental Petroleum Co. will post 3.66 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s payout ratio is 24.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OXY. Citigroup dropped their target price on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Wolfe Research initiated coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price on the stock. Stephens reaffirmed an “overweight” rating and set a $76.00 price target on shares of Occidental Petroleum in a research note on Thursday, August 8th. Truist Financial reduced their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Finally, Wells Fargo & Company dropped their target price on Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average price target of $71.50.

Insider Buying and Selling

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 transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 1,060,653 shares of Occidental Petroleum stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of $59.59 per share, with a total value of $63,204,312.27. Following the acquisition, the insider now owns 254,947,063 shares of the company’s stock, valued at approximately $15,192,295,484.17. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. Insiders acquired a total of 2,161,013 shares of company stock valued at $129,356,749 over the last 90 days. Insiders own 0.31% of the company’s stock.

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.