Privium Fund Management B.V. lessened its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 83.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,192 shares of the oil and gas producer's stock after selling 415,015 shares during the period. Occidental Petroleum makes up 1.0% of Privium Fund Management B.V.'s investment portfolio, making the stock its 26th largest position. Privium Fund Management B.V.'s holdings in Occidental Petroleum were worth $4,185,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Fortitude Family Office LLC lifted its position in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock valued at $25,000 after buying an additional 304 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in Occidental Petroleum in the 1st quarter valued at approximately $44,000. LRI Investments LLC purchased a new stake in Occidental Petroleum in the first quarter valued at approximately $44,000. Strategic Financial Concepts LLC acquired a new position in Occidental Petroleum during the second quarter worth $53,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Occidental Petroleum during the third quarter worth $87,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
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 stock was 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company's stock.
Shares of NYSE OXY opened at $50.53 on Friday. The stock's 50-day simple moving average is $52.20 and its 200-day simple moving average is $58.09. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The firm has a market capitalization of $45.76 billion, a PE ratio of 12.45 and a beta of 1.58. Occidental Petroleum Co. has a fifty-two week low of $49.51 and a fifty-two week high of $71.18.
Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results 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. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The company's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum's payout ratio is 21.67%.
Several equities analysts recently issued reports on OXY shares. Stephens reissued an "overweight" rating and set a $76.00 target price on shares of Occidental Petroleum in a research note on Thursday, August 8th. Mizuho reduced their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. StockNews.com upgraded shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a report on Thursday. Scotiabank reduced 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 report on Thursday, October 10th. Finally, Susquehanna dropped their price target on shares of Occidental Petroleum from $78.00 to $77.00 and set a "positive" rating for the company in a research note on Friday, October 18th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $64.78.
View Our Latest Research Report on OXY
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.
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