Nwam LLC Sells 2,495 Shares of Occidental Petroleum Co. (NYSE:OXY)

Nwam LLC reduced its stake in Occidental Petroleum Co. (NYSE:OXY) by 22.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,819 shares of the oil and gas producer’s stock after selling 2,495 shares during the period. Nwam LLC’s holdings in Occidental Petroleum were worth $574,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OXY. Berkshire Hathaway Inc increased its stake in Occidental Petroleum by 8.7% in the fourth 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 in the last quarter. Pacer Advisors Inc. increased its stake in Occidental Petroleum by 22.2% in the fourth quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after purchasing an additional 1,088,052 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in shares of Occidental Petroleum by 51.7% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after buying an additional 797,894 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of 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 valued at $45,192,000 after buying an additional 532,847 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Occidental Petroleum by 52.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,399,569 shares of the oil and gas producer’s stock valued at $83,568,000 after buying an additional 483,422 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of analyst reports. Scotiabank reduced their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Barclays initiated coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Occidental Petroleum from $69.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Stephens reduced their price objective on shares of Occidental Petroleum from $78.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Citigroup cut their price target on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $72.44.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc bought 334,461 shares of the company’s stock in a transaction on Monday, June 17th. The shares were purchased at an average price of $59.75 per share, for a total transaction of $19,984,044.75. Following the completion of the transaction, the insider now directly owns 255,281,524 shares in the company, valued at approximately $15,253,071,059. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have purchased a total of 4,656,747 shares of company stock worth $278,664,028 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $63.13 on Friday. The stock has a fifty day simple moving average of $61.84 and a two-hundred day simple moving average of $61.98. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The firm has a market cap of $55.97 billion, a price-to-earnings ratio of 17.25 and a beta of 1.61. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same period in the prior year, the company earned $1.09 earnings per share. Occidental Petroleum’s revenue was down 17.2% compared to the same quarter last year. Analysts anticipate that Occidental Petroleum Co. will post 3.82 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, June 10th were given a dividend of $0.22 per share. The ex-dividend date was Monday, June 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.39%. Occidental Petroleum’s dividend payout ratio is currently 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.