Private Advisor Group LLC Trims Holdings in Occidental Petroleum Co. (NYSE:OXY)

Private Advisor Group LLC lowered its holdings in Occidental Petroleum Co. (NYSE:OXY) by 16.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 68,302 shares of the oil and gas producer’s stock after selling 13,385 shares during the quarter. Private Advisor Group LLC’s holdings in Occidental Petroleum were worth $3,375,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in OXY. Fortitude Family Office LLC increased its position in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at about $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum in the third quarter worth about $50,000. New Wave Wealth Advisors LLC purchased a new stake in Occidental Petroleum in the fourth quarter worth about $59,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Occidental Petroleum during the 4th quarter valued at approximately $68,000. 88.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the transaction, the insider now owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders purchased a total of 6,854,394 shares of company stock valued at $315,101,532 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on OXY. Roth Capital set a $54.00 target price on Occidental Petroleum in a research note on Thursday, January 23rd. Wolfe Research raised their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Truist Financial upped their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. Finally, Jefferies Financial Group upped their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and an average price target of $61.55.

Occidental Petroleum Stock Performance

OXY opened at $50.42 on Monday. The firm has a market cap of $47.31 billion, a P/E ratio of 20.66 and a beta of 1.55. Occidental Petroleum Co. has a 1-year low of $45.17 and a 1-year high of $71.18. The company has a 50 day simple moving average of $49.20 and a two-hundred day simple moving average of $51.34. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Equities analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.90%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio is presently 39.34%.

Occidental Petroleum Company Profile

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.