Lazard Asset Management LLC Lowers Holdings in Occidental Petroleum Co. (NYSE:OXY)

Lazard Asset Management LLC lessened its stake in Occidental Petroleum Co. (NYSE:OXYGet Rating) by 36.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,740 shares of the oil and gas producer’s stock after selling 6,645 shares during the quarter. Lazard Asset Management LLC’s holdings in Occidental Petroleum were worth $340,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dumont & Blake Investment Advisors LLC raised its position in Occidental Petroleum by 4.8% in the 4th quarter. Dumont & Blake Investment Advisors LLC now owns 7,582 shares of the oil and gas producer’s stock worth $220,000 after buying an additional 350 shares during the last quarter. Peapack Gladstone Financial Corp raised its position in Occidental Petroleum by 2.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 19,975 shares of the oil and gas producer’s stock worth $591,000 after buying an additional 395 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Occidental Petroleum by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 55,600 shares of the oil and gas producer’s stock worth $1,612,000 after buying an additional 400 shares during the last quarter. Cornercap Investment Counsel Inc. raised its position in Occidental Petroleum by 0.6% in the 3rd quarter. Cornercap Investment Counsel Inc. now owns 70,457 shares of the oil and gas producer’s stock worth $2,084,000 after buying an additional 431 shares during the last quarter. Finally, Jeppson Wealth Management LLC raised its position in Occidental Petroleum by 0.8% in the 3rd quarter. Jeppson Wealth Management LLC now owns 53,828 shares of the oil and gas producer’s stock worth $1,592,000 after buying an additional 448 shares during the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Avedick Baruyr Poladian sold 20,000 shares of the stock in a transaction on Friday, March 11th. The stock was sold at an average price of $57.23, for a total transaction of $1,144,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vicki A. Hollub bought 14,191 shares of Occidental Petroleum stock in a transaction on Monday, March 28th. The stock was acquired at an average price of $56.24 per share, for a total transaction of $798,101.84. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,783,083 shares of company stock worth $387,503,934 in the last 90 days. 0.31% of the stock is currently owned by insiders.

OXY stock opened at $64.08 on Friday. Occidental Petroleum Co. has a 1-year low of $21.62 and a 1-year high of $64.98. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.23 and a quick ratio of 1.00. The company has a market capitalization of $60.04 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.19 and a beta of 1.94. The business has a 50 day simple moving average of $58.25 and a two-hundred day simple moving average of $42.83.

Occidental Petroleum (NYSE:OXYGet Rating) last posted its earnings results on Tuesday, May 10th. The oil and gas producer reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.09. The firm had revenue of $8.53 billion during the quarter, compared to the consensus estimate of $8.06 billion. Occidental Petroleum had a return on equity of 54.54% and a net margin of 25.01%. The company’s quarterly revenue was up 61.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.15) EPS. Sell-side analysts anticipate that Occidental Petroleum Co. will post 9.29 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, June 10th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, June 9th. This represents a $0.52 annualized dividend and a yield of 0.81%. Occidental Petroleum’s payout ratio is presently 7.91%.

A number of equities analysts have weighed in on OXY shares. StockNews.com raised Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Friday. Truist Financial upped their price target on shares of Occidental Petroleum from $78.00 to $86.00 in a research report on Thursday, April 21st. Piper Sandler raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and upped their price target for the company from $44.00 to $88.00 in a research report on Thursday, April 7th. Raymond James upped their price target on shares of Occidental Petroleum from $85.00 to $90.00 and gave the company a “strong-buy” rating in a research report on Monday, April 25th. Finally, Mizuho upped their price target on shares of Occidental Petroleum from $78.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, March 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Buy” and an average target price of $62.00.

Occidental Petroleum Profile (Get Rating)

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

See Also

Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Co. (NYSE:OXYGet Rating).

Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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