Mcintyre Freedman & Flynn Investment Advisers Inc. Has $1.54 Million Stock Position in Occidental Petroleum Co. (NYSE:OXY)

Mcintyre Freedman & Flynn Investment Advisers Inc. increased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 8.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,500 shares of the oil and gas producer’s stock after acquiring an additional 2,000 shares during the quarter. Mcintyre Freedman & Flynn Investment Advisers Inc.’s holdings in Occidental Petroleum were worth $1,544,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. raised its position in shares of Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 167 shares during the last quarter. LifeSteps Financial Inc. acquired a new position in Occidental Petroleum in the first quarter valued at about $34,000. Able Wealth Management LLC bought a new position in Occidental Petroleum during the fourth quarter worth about $38,000. New Covenant Trust Company N.A. acquired a new position in shares of Occidental Petroleum during the 1st quarter worth about $44,000. Finally, LRI Investments LLC bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at about $44,000. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Citigroup decreased 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. Wolfe Research assumed coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price target for the company. Stephens reaffirmed an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a research note on Thursday, August 8th. UBS Group boosted their target price on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Truist Financial dropped their price target on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Nine 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $72.27.

Occidental Petroleum Stock Up 0.1 %

Shares of OXY stock opened at $51.05 on Friday. The firm’s fifty day moving average price is $57.85 and its two-hundred day moving average price is $61.57. Occidental Petroleum Co. has a 1 year low of $49.90 and a 1 year high of $71.18. 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 firm has a market capitalization of $46.23 billion, a P/E ratio of 13.95 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. Occidental Petroleum’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. On average, equities analysts predict that Occidental Petroleum Co. will post 3.71 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 yield of 1.72%. Occidental Petroleum’s payout ratio is 24.04%.

Insiders Place Their Bets

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction dated 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 approximately $5,923,116,413.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred on 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 owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was purchased at an average cost of $59.75 per share, for a total transaction of $19,984,044.75. Following the completion of the acquisition, the insider now owns 255,281,524 shares in the company, valued at $15,253,071,059. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

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.