Trust Co. of Oklahoma Raises Holdings in Occidental Petroleum Co. (NYSE:OXY)

Trust Co. of Oklahoma boosted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 23.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,367 shares of the oil and gas producer’s stock after buying an additional 832 shares during the quarter. Trust Co. of Oklahoma’s holdings in Occidental Petroleum were worth $284,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Investment Research & Advisory Group Inc. increased its holdings in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 167 shares during the period. Orion Capital Management LLC acquired a new stake in Occidental Petroleum in the third quarter valued at approximately $27,000. TLW Wealth Management LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at approximately $28,000. Grove Bank & Trust boosted its stake in Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in Occidental Petroleum in the fourth quarter valued at approximately $34,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Barclays assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price for the company. Wells Fargo & Company lifted their price objective on shares of Occidental Petroleum from $68.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, June 21st. Citigroup lowered their price objective on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Finally, Susquehanna lifted their price objective on shares of Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Eleven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $71.56.

Occidental Petroleum Stock Performance

NYSE OXY traded down $0.06 on Wednesday, reaching $62.30. 4,119,048 shares of the company’s stock traded hands, compared to its average volume of 8,010,507. The firm has a market cap of $55.24 billion, a price-to-earnings ratio of 17.03 and a beta of 1.61. The stock has a 50 day moving average price of $62.76 and a 200-day moving average price of $61.83. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. The firm’s revenue for the quarter was down 17.2% on a year-over-year basis. Equities research analysts predict that Occidental Petroleum Co. will post 3.88 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.41%. Occidental Petroleum’s payout ratio is 24.04%.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 1,386,844 shares of the business’s stock in a transaction on Friday, June 7th. The stock was bought at an average price of $59.67 per share, with a total value of $82,752,981.48. Following the completion of the acquisition, the insider now owns 250,583,605 shares of the company’s stock, valued at $14,952,323,710.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders bought 4,656,747 shares of company stock valued at $278,664,028. Corporate insiders own 0.48% 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.