Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 18.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,623 shares of the oil and gas producer’s stock after purchasing an additional 3,296 shares during the quarter. Bridges Investment Management Inc.’s holdings in Occidental Petroleum were worth $1,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. WealthPLAN Partners LLC purchased a new position in shares of Occidental Petroleum in the first quarter valued at $806,000. Meeder Advisory Services Inc. grew its stake in shares of Occidental Petroleum by 2.0% during the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock valued at $553,000 after acquiring an additional 164 shares in the last quarter. Verus Capital Partners LLC purchased a new position in Occidental Petroleum in the first quarter valued at about $257,000. Thoroughbred Financial Services LLC grew its stake in Occidental Petroleum by 9.2% during the 1st quarter. Thoroughbred Financial Services LLC now owns 3,846 shares of the oil and gas producer’s stock valued at $250,000 after purchasing an additional 323 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new stake in Occidental Petroleum during the 1st quarter worth approximately $236,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $50.53 on Friday. Occidental Petroleum Co. has a 12-month low of $49.51 and a 12-month high of $71.18. The company has a market cap of $45.76 billion, a PE ratio of 12.45 and a beta of 1.58. The stock has a 50 day simple moving average of $52.20 and a 200-day simple moving average of $58.09. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.26. The company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company’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 business posted $0.68 earnings per share. On average, equities research analysts forecast that Occidental Petroleum Co. will post 3.29 EPS for the current year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.74%. Occidental Petroleum’s payout ratio is 21.67%.

Insiders Place Their Bets

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

OXY has been the subject of several research analyst reports. Stephens reiterated an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday, August 8th. Wolfe Research assumed coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective on the stock. BMO Capital Markets decreased 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 report on Friday, October 4th. Scotiabank cut their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Truist Financial decreased their price target on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $64.78.

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.