Chevy Chase Trust Holdings LLC Cuts Stock Holdings in Occidental ... - MarketBeat

Chevy Chase Trust Holdings LLC Cuts Stock Holdings in Occidental Petroleum Co. (NYSE:OXY) - MarketBeat

Chevy Chase Trust Holdings LLC trimmed its position in shares of Occidental Petroleum Co. ( NYSE:OXY- Free Report) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 413,747 shares of the oil and gas producer's stock after selling 9,319 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Occidental Petroleum were worth $24,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of OXY. Berkshire Hathaway Inc boosted its stake in shares of Occidental Petroleum by 8.9% in the 1st quarter. Berkshire Hathaway Inc now owns 211,707,119 shares of the oil and gas producer's stock worth $13,216,875,000 after buying an additional 17,355,469 shares during the last quarter. Moneta Group Investment Advisors LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter worth about $267,173,000. Fairfax Financial Holdings Ltd. Can boosted its holdings in shares of Occidental Petroleum by 228.9% in the 1st quarter. Fairfax Financial Holdings Ltd. Can now owns 3,030,427 shares of the oil and gas producer's stock worth $189,159,000 after buying an additional 2,108,927 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Occidental Petroleum by 87.9% in the 1st quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer's stock worth $185,885,000 after buying an additional 1,532,100 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Occidental Petroleum by 96.7% in the 4th quarter. Point72 Asset Management L.P. now owns 3,094,009 shares of the oil and gas producer's stock worth $194,892,000 after buying an additional 1,521,409 shares during the last quarter. 77.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $25.00, for a total transaction of $127,500,000.00. Following the completion of the sale, the insider now directly owns 185,181,578 shares in the company, valued at $4,629,539,450. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of recent research reports. StockNews.com initiated coverage on Occidental Petroleum in a research report on Thursday. They issued a "sell" rating for the company. Susquehanna cut their target price on shares of Occidental Petroleum from $75.00 to $72.00 and set a "positive" rating for the company in a research report on Friday, July 21st. Piper Sandler boosted their price target on shares of Occidental Petroleum from $61.00 to $62.00 in a research report on Tuesday, June 13th. Citigroup upped their price target on shares of Occidental Petroleum from $62.00 to $66.00 in a research note on Wednesday, September 20th. Finally, Evercore ISI cut their price target on shares of Occidental Petroleum from $60.00 to $59.00 in a report on Monday, July 10th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $70.12.

Read Our Latest Stock Report on Occidental Petroleum

Occidental Petroleum Stock Performance

NYSE OXY opened at $61.40 on Friday. The company has a 50-day simple moving average of $63.70 and a two-hundred day simple moving average of $61.38. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 12-month low of $55.51 and a 12-month high of $76.11. The firm has a market cap of $54.32 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 0.71 and a beta of 1.73.

Occidental Petroleum ( NYSE:OXY- Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The company had revenue of $6.73 billion for the quarter, compared to analysts' expectations of $6.92 billion. Occidental Petroleum had a net margin of 21.36% and a return on equity of 31.59%. The business's revenue for the quarter was down 37.3% compared to the same quarter last year. During the same period last year, the company posted $3.16 EPS. On average, equities analysts forecast that Occidental Petroleum Co. will post 3.91 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.17%. Occidental Petroleum's dividend payout ratio is currently 12.22%.

Occidental Petroleum Company Profile

(
Free Report

)

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, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Occidental Petroleum, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Occidental Petroleum wasn't on the list.

While Occidental Petroleum currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.