Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Everett Harris & Co. CA

Everett Harris & Co. CA cut its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 15.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,453 shares of the oil and gas producer’s stock after selling 800 shares during the period. Everett Harris & Co. CA’s holdings in Occidental Petroleum were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in OXY. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $26,000. Orion Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $27,000. TLW Wealth Management LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at $28,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at $35,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at $35,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

Shares of OXY stock traded up $0.79 during trading on Thursday, reaching $64.99. The company had a trading volume of 7,105,514 shares, compared to its average volume of 8,742,230. The firm’s 50 day simple moving average is $60.00 and its two-hundred day simple moving average is $60.82. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $67.67. The company has a market capitalization of $57.61 billion, a PE ratio of 16.62 and a beta of 1.63.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The firm had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.61 EPS. Sell-side analysts forecast that Occidental Petroleum Co. will post 3.56 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 8th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, March 7th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s payout ratio is currently 22.51%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Stephens reissued an “overweight” rating and set a $74.00 target price on shares of Occidental Petroleum in a research note on Thursday, February 15th. JPMorgan Chase & Co. cut their target price on shares of Occidental Petroleum from $78.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday, December 8th. Morgan Stanley boosted their target price on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho boosted their target price on shares of Occidental Petroleum from $63.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Finally, Truist Financial cut their target price on shares of Occidental Petroleum from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.19.

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.