Occidental Petroleum Corporation (NYSE:OXY) Shares Sold by Generali Investments Towarzystwo Funduszy Inwestycyjnych

Key Points

• Generali Investments Towarzystwo Funduszy Inwestycyjnych reduced its stock holdings in Occidental Petroleum by 29.2%, selling 7,169 shares and retaining 17,400 shares worth approximately $859,000.
• Other institutional investors, notably Berkshire Hathaway, have increased their stakes in Occidental Petroleum, with Berkshire raising its holdings by 3.5% in the last quarter.
• Occidental Petroleum announced a quarterly dividend of $0.24 per share, representing a 2.2% yield, with the dividend set to be paid on October 15th.

Generali Investments Towarzystwo Funduszy Inwestycyjnych reduced its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY - Free Report) by 29.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,400 shares of the oil and gas producer's stock after selling 7,169 shares during the quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings in Occidental Petroleum were worth $859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth about $26,000. Bernard Wealth Management Corp. purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth about $32,000. Grove Bank & Trust grew its position in shares of Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after purchasing an additional 407 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of Occidental Petroleum during the first quarter worth about $39,000. Finally, Quarry LP grew its position in shares of Occidental Petroleum by 615.2% during the fourth quarter. Quarry LP now owns 987 shares of the oil and gas producer's stock worth $49,000 after purchasing an additional 849 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY traded up $0.17 during midday trading on Tuesday, hitting $43.03. The company had a trading volume of 2,648,205 shares, compared to its average volume of 12,024,290. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $59.31. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. The stock has a market cap of $42.35 billion, a price-to-earnings ratio of 17.46 and a beta of 0.91. The business's 50-day simple moving average is $43.76 and its 200-day simple moving average is $44.50.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. The company had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share. On average, research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. Occidental Petroleum's payout ratio is presently 39.02%.

Analyst Ratings Changes

OXY has been the subject of several research analyst reports. Barclays increased their target price on Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Stephens cut their price target on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Citigroup raised their price target on Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Monday, May 19th. TD Cowen cut Occidental Petroleum from a "buy" rating to a "hold" rating and cut their price target for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Finally, Piper Sandler raised their price target on Occidental Petroleum from $48.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $53.71.

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, 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.