Lake Street Private Wealth LLC Lowers Holdings in Occidental Petroleum Co. (NYSE:OXY)

Lake Street Private Wealth LLC reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 33.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,376 shares of the oil and gas producer’s stock after selling 2,199 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Occidental Petroleum were worth $216,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Berkshire Hathaway Inc grew its holdings in Occidental Petroleum by 3.5% in the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer’s stock valued at $13,053,055,000 after purchasing an additional 8,896,890 shares during the period. Vanguard Group Inc. grew its stake in Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock valued at $3,365,992,000 after acquiring an additional 10,434,098 shares during the period. Geode Capital Management LLC increased its holdings in Occidental Petroleum by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer’s stock worth $701,816,000 after acquiring an additional 398,467 shares in the last quarter. Northern Trust Corp raised its position in Occidental Petroleum by 7.5% during the fourth quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer’s stock worth $349,085,000 after acquiring an additional 491,797 shares during the period. Finally, Invesco Ltd. lifted its holdings in Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer’s stock valued at $314,133,000 after purchasing an additional 1,278,389 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Hsbc Global Res upgraded Occidental Petroleum to a “hold” rating in a research report on Wednesday, April 16th. UBS Group dropped their price target on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Wall Street Zen lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Finally, Barclays upped their target price on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $53.14.

Occidental Petroleum Stock Down 0.3%

OXY stock opened at $41.78 on Friday. The company’s 50 day moving average price is $40.89 and its 200 day moving average price is $46.13. The firm has a market capitalization of $41.12 billion, a price-to-earnings ratio of 17.12 and a beta of 0.81. Occidental Petroleum Co. has a fifty-two week low of $34.79 and a fifty-two week high of $64.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The business had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. On average, equities research analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.30%. Occidental Petroleum’s payout ratio is currently 39.02%.

Occidental Petroleum 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.