Trust Co. of Oklahoma Acquires Shares of 3,635 Occidental Petroleum Co. (NYSE:OXY)

Trust Co. of Oklahoma acquired a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,635 shares of the oil and gas producer’s stock, valued at approximately $214,000.

A number of other institutional investors also recently added to or reduced their stakes in OXY. Berkshire Hathaway Inc raised its stake in shares of Occidental Petroleum by 8.9% in the first quarter. Berkshire Hathaway Inc now owns 211,707,119 shares of the oil and gas producer’s stock valued at $13,216,875,000 after acquiring an additional 17,355,469 shares during the last quarter. Moneta Group Investment Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $267,173,000. Renaissance Technologies LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $153,255,000. Fairfax Financial Holdings Ltd. Can raised its stake in shares of Occidental Petroleum by 228.9% in the first quarter. Fairfax Financial Holdings Ltd. Can now owns 3,030,427 shares of the oil and gas producer’s stock valued at $189,159,000 after acquiring an additional 2,108,927 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Occidental Petroleum by 87.9% in the first quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer’s stock valued at $185,885,000 after acquiring an additional 1,532,100 shares during the last quarter. 77.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on OXY shares. Susquehanna dropped their price objective on shares of Occidental Petroleum from $75.00 to $72.00 and set a “positive” rating for the company in a research report on Friday, July 21st. Piper Sandler boosted their price objective on shares of Occidental Petroleum from $61.00 to $62.00 in a research report on Tuesday, June 13th. Morgan Stanley boosted their price objective on shares of Occidental Petroleum from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, August 18th. Truist Financial reaffirmed a “buy” rating and set a $80.00 target price on shares of Occidental Petroleum in a report on Wednesday, August 16th. Finally, 51job reaffirmed a “maintains” rating on shares of Occidental Petroleum in a report on Tuesday, June 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $69.88.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $66.32 on Tuesday. The firm has a market cap of $58.67 billion, a PE ratio of 11.26, a PEG ratio of 0.79 and a beta of 1.77. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 1-year low of $55.51 and a 1-year high of $76.11. The company has a fifty day moving average price of $62.99 and a 200 day moving average price of $61.03.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). Occidental Petroleum had a return on equity of 31.59% and a net margin of 21.36%. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period last year, the firm earned $3.16 earnings per share. The company’s quarterly revenue was down 37.3% compared to the same quarter last year. Research analysts predict that Occidental Petroleum Co. will post 3.8 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 8th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.72 annualized dividend and a yield of 1.09%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 12.22%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 260,769 shares of the business’s stock in a transaction on Wednesday, June 28th. The shares were purchased at an average cost of $57.02 per share, with a total value of $14,869,048.38. Following the transaction, the insider now directly owns 224,129,192 shares of the company’s stock, valued at approximately $12,779,846,527.84. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $25.00, for a total value of $127,500,000.00. Following the sale, the insider now directly owns 185,181,578 shares of the company’s stock, valued at approximately $4,629,539,450. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 260,769 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was purchased at an average cost of $57.02 per share, for a total transaction of $14,869,048.38. Following the completion of the acquisition, the insider now owns 224,129,192 shares in the company, valued at approximately $12,779,846,527.84. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

Occidental Petroleum 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, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.