GFG Capital LLC Increases Holdings in Occidental Petroleum Co. (NYSE:OXY)

GFG Capital LLC raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 9.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,552 shares of the oil and gas producer’s stock after acquiring an additional 4,267 shares during the period. GFG Capital LLC’s holdings in Occidental Petroleum were worth $2,605,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Himalaya Capital Management LLC acquired a new position in shares of Occidental Petroleum during the second quarter valued at about $92,433,000. Clean Energy Transition LLP purchased a new position in shares of Occidental Petroleum in the first quarter worth about $67,601,000. Sarasin & Partners LLP purchased a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $63,880,000. Scharf Investments LLC acquired a new stake in shares of Occidental Petroleum in the 2nd quarter worth $42,744,000. Finally, American Century Companies Inc. increased its position in Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after purchasing an additional 532,318 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OXY has been the topic of a number of recent analyst reports. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 target price on the stock. Bank of America started coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Mizuho reduced their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $65.72.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction 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 directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Up 0.3 %

Shares of OXY stock opened at $51.82 on Tuesday. 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’s fifty day moving average price is $53.93 and its two-hundred day moving average price is $59.64. The firm has a market capitalization of $45.95 billion, a P/E ratio of 14.16 and a beta of 1.57. Occidental Petroleum Co. has a 1 year low of $49.75 and a 1 year high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. On average, equities analysts predict that Occidental Petroleum Co. will post 3.48 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

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

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.