Benin Management CORP Buys Shares of 6,424 Occidental Petroleum Co. (NYSE:OXY)

Benin Management CORP bought a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 6,424 shares of the oil and gas producer’s stock, valued at approximately $331,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. American Century Companies Inc. raised its position in shares of Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after acquiring an additional 532,318 shares during the last quarter. Epoch Investment Partners Inc. increased its position in shares of Occidental Petroleum by 20.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after buying an additional 277,462 shares in the last quarter. Himalaya Capital Management LLC bought a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $92,433,000. Cooke & Bieler LP increased its position in shares of Occidental Petroleum by 53.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after buying an additional 503,173 shares in the last quarter. Finally, Clean Energy Transition LLP bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at $67,601,000. Institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Performance

NYSE:OXY traded up $0.13 on Monday, hitting $51.79. The company’s stock had a trading volume of 3,390,985 shares, compared to its average volume of 9,123,422. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average of $54.08 and a two-hundred day moving average of $59.75. The firm has a market capitalization of $45.92 billion, a P/E ratio of 14.15 and a beta of 1.57. Occidental Petroleum Co. has a one year low of $49.75 and a one year high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. Research analysts predict that Occidental Petroleum Co. will post 3.48 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th were paid a $0.22 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.70%. Occidental Petroleum’s dividend payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on OXY shares. BMO Capital Markets lowered their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Wolfe Research began coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price for the company. Stephens reaffirmed an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday, August 8th. Truist Financial reduced their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Finally, UBS Group reduced their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $65.72.

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.