Occidental Petroleum Co. (NYSE:OXY) Stock Position Reduced by American National Bank

American National Bank cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 15.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,193 shares of the oil and gas producer’s stock after selling 212 shares during the period. American National Bank’s holdings in Occidental Petroleum were worth $78,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC grew its position in Occidental Petroleum by 1.2% in the third quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock worth $957,000 after acquiring an additional 174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in Occidental Petroleum by 0.8% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 23,523 shares of the oil and gas producer’s stock worth $1,405,000 after acquiring an additional 185 shares in the last quarter. Strategic Advocates LLC grew its position in Occidental Petroleum by 1.8% in the fourth quarter. Strategic Advocates LLC now owns 10,356 shares of the oil and gas producer’s stock worth $618,000 after acquiring an additional 186 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in Occidental Petroleum by 2.8% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,326 shares of the oil and gas producer’s stock worth $475,000 after acquiring an additional 200 shares in the last quarter. Finally, Greatmark Investment Partners Inc. grew its position in Occidental Petroleum by 1.5% in the fourth quarter. Greatmark Investment Partners Inc. now owns 13,180 shares of the oil and gas producer’s stock worth $787,000 after acquiring an additional 200 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 334,461 shares of the stock in a transaction dated Monday, June 17th. The shares were acquired at an average price of $59.75 per share, with a total value of $19,984,044.75. Following the acquisition, the insider now owns 255,281,524 shares in the company, valued at $15,253,071,059. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have bought 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is owned by insiders.

Occidental Petroleum Stock Performance

Occidental Petroleum stock traded down $1.52 on Friday, hitting $60.92. The company’s stock had a trading volume of 21,239,578 shares, compared to its average volume of 8,119,837. The firm has a market cap of $54.01 billion, a P/E ratio of 16.99 and a beta of 1.59. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82. The company has a fifty day moving average price of $63.48 and a 200-day moving average price of $61.46. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 EPS. On average, equities analysts anticipate that Occidental Petroleum Co. will post 3.89 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Monday, June 10th. Occidental Petroleum’s payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

Several analysts have commented on OXY shares. Susquehanna boosted their target price on shares of Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Morgan Stanley boosted their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Barclays started coverage on shares of Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective for the company. HSBC started coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. Finally, Citigroup reduced 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. Eleven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $71.56.

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.