227,318 Shares in Occidental Petroleum Corporation $OXY Bought by Corient Private Wealth LP

Corient Private Wealth LP purchased a new stake in Occidental Petroleum Corporation (NYSE:OXY - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 227,318 shares of the oil and gas producer's stock, valued at approximately $11,042,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of OXY. Axiom Investment Management LLC acquired a new position in shares of Occidental Petroleum during the first quarter valued at about $25,000. Hara Capital LLC acquired a new stake in Occidental Petroleum during the second quarter worth about $25,000. GKV Capital Management Co. Inc. bought a new position in Occidental Petroleum during the first quarter valued at about $26,000. Portus Wealth Advisors LLC acquired a new position in Occidental Petroleum in the 1st quarter valued at approximately $29,000. Finally, Caitlin John LLC acquired a new position in Occidental Petroleum in the 4th quarter valued at approximately $29,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Occidental Petroleum

In other news, CEO Richard A. Jackson purchased 4,770 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, with a total value of $249,852.60. Following the acquisition, the chief executive officer directly owned 444,098 shares of the company's stock, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by corporate insiders.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $59.12 on Friday. The business has a 50 day simple moving average of $55.18 and a 200 day simple moving average of $55.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. The company has a market capitalization of $59.10 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.94 and a beta of 0.15. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.57. The firm had revenue of $8.06 billion for the quarter, compared to analysts' expectations of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The business's revenue was up 53.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. On average, sell-side analysts forecast that Occidental Petroleum Corporation will post 6.09 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be given a dividend of $0.28 per share. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.9%. Occidental Petroleum's dividend payout ratio is 16.10%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Barclays decreased their price objective on Occidental Petroleum from $75.00 to $71.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. Susquehanna lifted their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock a "positive" rating in a research note on Tuesday, August 11th. Wells Fargo & Company boosted their price target on shares of Occidental Petroleum from $72.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Citigroup dropped their price objective on shares of Occidental Petroleum from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, July 17th. Finally, Truist Financial lifted their target price on shares of Occidental Petroleum from $57.00 to $63.00 and gave the company a "hold" rating in a research report on Monday, August 10th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $64.83.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental's operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.

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