Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Sittner & Nelson LLC

08 Nov 2024, 13:24 by Tristan Rich · The Markets Daily

Sittner & Nelson LLC increased its stake in Occidental Petroleum Co. (NYSE:OXY – Free Report) by 49.9% during the 3rd quarter, Holdings Channel reports. The fund owned 2,403 shares of the oil and gas producer’s stock after purchasing an additional 800 shares during the quarter. Sittner & Nelson LLC’s holdings in Occidental Petroleum were worth $124,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in shares of Occidental Petroleum during the first quarter worth about $1,009,000. Empirical Finance LLC grew its holdings in shares of Occidental Petroleum by 2.5% during the first quarter. Empirical Finance LLC now owns 34,834 shares of the oil and gas producer’s stock worth $2,264,000 after purchasing an additional 838 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Occidental Petroleum during the first quarter worth about $454,000. Nvwm LLC grew its holdings in shares of Occidental Petroleum by 14.2% during the first quarter. Nvwm LLC now owns 21,506 shares of the oil and gas producer’s stock worth $1,402,000 after buying an additional 2,679 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of Occidental Petroleum by 6.7% during the first quarter. Illinois Municipal Retirement Fund now owns 146,003 shares of the oil and gas producer’s stock worth $9,489,000 after buying an additional 9,229 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.4 %

OXY stock opened at $51.21 on Friday. The stock has a market capitalization of $46.38 billion, a P/E ratio of 12.61 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum Co. has a one year low of $49.51 and a one year high of $71.18. The company has a 50 day moving average price of $52.44 and a two-hundred day moving average price of $58.25.

Occidental Petroleum (NYSE:OXY – Get Free Report) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. Occidental Petroleum’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. As a group, sell-side analysts expect that Occidental Petroleum Co. will post 3.29 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.72%. Occidental Petroleum’s dividend payout ratio is presently 21.67%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OXY. The Goldman Sachs Group began coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. Scotiabank lowered their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Bank of America initiated coverage on Occidental Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target on the stock. Barclays reduced their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Finally, Wolfe Research initiated coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price objective for the company. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $65.72.

Read Our Latest Research Report on Occidental Petroleum

Insider Activity

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were 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 of the company’s stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.48% of the company’s stock.

Occidental Petroleum Profile

(Free Report)

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.