Manning & Napier Advisors LLC Sells 98,173 Shares of Occidental Petroleum Corporation $OXY

Manning & Napier Advisors LLC reduced its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 41.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 137,180 shares of the oil and gas producer’s stock after selling 98,173 shares during the period. Manning & Napier Advisors LLC’s holdings in Occidental Petroleum were worth $6,598,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Occidental Petroleum by 77.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 139,086 shares of the oil and gas producer’s stock valued at $5,843,000 after buying an additional 60,793 shares in the last quarter. Tevis Investment Management purchased a new position in shares of Occidental Petroleum in the second quarter valued at about $356,000. Swedbank AB bought a new position in Occidental Petroleum during the 3rd quarter valued at approximately $35,517,000. Nordea Investment Management AB raised its holdings in shares of Occidental Petroleum by 4.9% during the second quarter. Nordea Investment Management AB now owns 459,826 shares of the oil and gas producer’s stock valued at $19,446,000 after acquiring an additional 21,393 shares in the last quarter. Finally, Aberdeen Group plc raised its holdings in Occidental Petroleum by 4.4% in the 2nd quarter. Aberdeen Group plc now owns 731,158 shares of the oil and gas producer’s stock worth $30,716,000 after purchasing an additional 30,746 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director William R. Klesse acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was acquired at an average price of $38.98 per share, with a total value of $194,900.00. Following the acquisition, the director directly owned 218,913 shares in the company, valued at $8,533,228.74. This represents a 2.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

OXY has been the topic of several research reports. Citigroup dropped their price objective on shares of Occidental Petroleum from $49.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 19th. Mizuho boosted their price objective on shares of Occidental Petroleum from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price target on shares of Occidental Petroleum in a report on Tuesday, November 25th. Piper Sandler dropped their price objective on Occidental Petroleum from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $49.55.

Occidental Petroleum Stock Up 2.3%

NYSE:OXY opened at $44.29 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.71. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $52.78. The company has a 50-day moving average of $41.46 and a 200 day moving average of $43.38. The firm has a market cap of $43.64 billion, a PE ratio of 32.57 and a beta of 0.38.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, research analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 70.59%.

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.