Occidental Petroleum Corporation $OXY Shares Sold by CI Investments Inc.

CI Investments Inc. reduced its position in Occidental Petroleum Corporation (NYSE:OXY) by 26.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 130,233 shares of the oil and gas producer’s stock after selling 45,682 shares during the period. CI Investments Inc.’s holdings in Occidental Petroleum were worth $8,465,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of OXY. Dimensional Fund Advisors LP raised its position in shares of Occidental Petroleum by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock worth $436,008,000 after purchasing an additional 1,883,721 shares during the period. Bank of New York Mellon Corp boosted its position in Occidental Petroleum by 44.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,761,082 shares of the oil and gas producer’s stock valued at $374,470,000 after purchasing an additional 1,776,922 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Occidental Petroleum by 54.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock valued at $162,820,000 after purchasing an additional 1,393,638 shares during the period. Wellington Management Group LLP grew its stake in Occidental Petroleum by 1,029.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock worth $70,580,000 after buying an additional 1,361,541 shares during the last quarter. Finally, Invesco Ltd. increased its position in Occidental Petroleum by 18.9% in the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock worth $276,772,000 after buying an additional 1,071,948 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $57.68 on Friday. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market cap of $57.37 billion, a PE ratio of 14.53 and a beta of 0.15. The company’s 50-day moving average price is $54.85 and its two-hundred day moving average price is $53.47.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS. As a group, sell-side analysts anticipate that Occidental Petroleum Corporation will post 5.66 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Occidental Petroleum’s payout ratio is presently 26.20%.

Analyst Ratings Changes

A number of research firms recently weighed in on OXY. Raymond James Financial increased their price objective on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Truist Financial decreased their target price on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating for the company in a research report on Friday, May 8th. The Goldman Sachs Group dropped their price target on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Zacks Research cut Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Capital One Financial boosted their price objective on Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average price target of $64.17.

Insiders Place Their Bets

In other news, CEO Richard A. Jackson bought 4,770 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $52.38 per share, with a total value of $249,852.60. Following the transaction, the chief executive officer directly owned 444,098 shares in the company, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Occidental Petroleum Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.