Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Mezzasalma Advisors LLC

Mezzasalma Advisors LLC decreased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 31.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,962 shares of the oil and gas producer’s stock after selling 10,919 shares during the period. Occidental Petroleum accounts for 0.7% of Mezzasalma Advisors LLC’s portfolio, making the stock its 29th largest position. Mezzasalma Advisors LLC’s holdings in Occidental Petroleum were worth $1,557,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of OXY. SeaCrest Wealth Management LLC lifted its holdings in Occidental Petroleum by 8.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock worth $343,000 after buying an additional 474 shares in the last quarter. Cullen Investment Group LTD. purchased a new position in Occidental Petroleum in the fourth quarter valued at about $1,006,000. Koshinski Asset Management Inc. grew its stake in Occidental Petroleum by 53.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock valued at $2,877,000 after purchasing an additional 16,871 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Occidental Petroleum by 1,279.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 231,899 shares of the oil and gas producer’s stock worth $13,847,000 after purchasing an additional 215,091 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Occidental Petroleum by 139.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,529 shares of the oil and gas producer’s stock valued at $5,104,000 after purchasing an additional 45,722 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of OXY traded down $0.04 during midday trading on Thursday, hitting $62.32. 4,119,048 shares of the stock traded hands, compared to its average volume of 7,619,871. The business’s 50 day moving average price is $62.66 and its two-hundred day moving average price is $61.83. The firm has a market capitalization of $55.26 billion, a PE ratio of 17.03 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.95. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same period in the previous year, the business posted $1.09 EPS. Occidental Petroleum’s revenue was down 17.2% on a year-over-year basis. Equities research analysts predict that Occidental Petroleum Co. will post 3.88 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, June 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on OXY shares. Truist Financial lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and dropped their price target for the stock from $84.00 to $69.00 in a research note on Thursday, May 16th. Morgan Stanley increased their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. HSBC initiated coverage on Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. Susquehanna lifted their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Finally, StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Eleven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $71.56.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 524,340 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was bought at an average price of $59.75 per share, with a total value of $31,329,315.00. Following the completion of the purchase, the insider now owns 248,542,468 shares in the company, valued at approximately $14,850,412,463. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have acquired 4,656,747 shares of company stock valued at $278,664,028 in the last quarter. Corporate insiders own 0.48% of the company’s stock.

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.