Endurance Wealth Management Inc. lessened its stake in Occidental Petroleum Co. (NYSE:OXY) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,887 shares of the oil and gas producer’s stock after selling 2,808 shares during the period. Endurance Wealth Management Inc.’s holdings in Occidental Petroleum were worth $5,827,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of OXY. Global Trust Asset Management LLC boosted its stake in Occidental Petroleum by 2,725.6% in the 2nd quarter. Global Trust Asset Management LLC now owns 12,122 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 11,693 shares in the last quarter. Harvest Group Wealth Management LLC purchased a new position in Occidental Petroleum during the 1st quarter worth approximately $34,000. Hanson McClain Inc. raised its position in Occidental Petroleum by 77.9% during the 2nd quarter. Hanson McClain Inc. now owns 902 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 395 shares during the last quarter. Cornerstone Advisors Inc. raised its position in Occidental Petroleum by 110.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 694 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 365 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new position in Occidental Petroleum during the 1st quarter worth approximately $46,000. 81.12% of the stock is currently owned by institutional investors.
NYSE OXY traded up $0.61 on Friday, hitting $44.57. The company had a trading volume of 8,366,200 shares, compared to its average volume of 11,043,772. The company has a market capitalization of $32.70 billion, a PE ratio of 8.90, a PEG ratio of 2.61 and a beta of 0.82. The company’s fifty day moving average price is $49.69 and its 200-day moving average price is $57.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.20 and a quick ratio of 1.00. Occidental Petroleum Co. has a 12-month low of $43.08 and a 12-month high of $83.35.Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06. The company had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.39 billion. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 EPS. On average, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 7.09%. The ex-dividend date of this dividend is Monday, September 9th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. Occidental Petroleum’s payout ratio is 62.28%.
A number of research firms have issued reports on OXY. KeyCorp lowered shares of Occidental Petroleum from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, April 24th. Atlantic Securities lowered shares of Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 price target for the company. in a research report on Thursday, April 25th. Argus lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and set a $54.61 price target for the company. in a research report on Thursday, May 16th. Wells Fargo & Co reissued a “hold” rating on shares of Occidental Petroleum in a research report on Friday. Finally, ValuEngine lowered shares of Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $71.95.
In other Occidental Petroleum news, insider Vicki A. Hollub bought 37,460 shares of the stock in a transaction on Monday, June 10th. The shares were bought at an average price of $48.15 per share, with a total value of $1,803,699.00. Following the purchase, the insider now directly owns 248,326 shares in the company, valued at approximately $11,956,896.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eugene L. Batchelder bought 9,100 shares of the stock in a transaction on Monday, June 10th. The shares were acquired at an average cost of $48.11 per share, for a total transaction of $437,801.00. Following the purchase, the director now owns 45,148 shares in the company, valued at $2,172,070.28. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 104,160 shares of company stock worth $5,023,276. 0.15% of the stock is currently owned by corporate insiders.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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