Occidental Petroleum Co. (NYSE:OXY) Stock Position Cut by Miller Wealth Advisors LLC

Miller Wealth Advisors LLC lessened its stake in Occidental Petroleum Co. (NYSE:OXY) by 7.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,244 shares of the oil and gas producer’s stock after selling 2,611 shares during the period. Occidental Petroleum accounts for approximately 3.5% of Miller Wealth Advisors LLC’s investment portfolio, making the stock its 3rd largest holding. Miller Wealth Advisors LLC’s holdings in Occidental Petroleum were worth $1,925,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Occidental Petroleum in the third quarter worth about $26,000. Orion Capital Management LLC acquired a new stake in Occidental Petroleum in the third quarter worth about $27,000. TLW Wealth Management LLC acquired a new stake in Occidental Petroleum in the fourth quarter worth about $28,000. Grove Bank & Trust boosted its holdings in Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 0.6 %

Shares of Occidental Petroleum stock traded up $0.40 during trading hours on Thursday, hitting $64.85. The company’s stock had a trading volume of 3,151,041 shares, compared to its average volume of 8,491,294. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The firm has a fifty day moving average of $64.63 and a 200-day moving average of $61.40. The stock has a market cap of $57.49 billion, a price-to-earnings ratio of 16.48 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the company earned $1.61 EPS. Occidental Petroleum’s revenue was down 9.6% on a year-over-year basis. Research analysts forecast that Occidental Petroleum Co. will post 3.85 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were paid a dividend of $0.22 per share. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.88 annualized dividend and a yield of 1.36%. Occidental Petroleum’s dividend payout ratio is presently 22.51%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OXY. Mizuho lifted their target price on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Morgan Stanley lifted their target price on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Susquehanna lifted their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Barclays began coverage on Occidental Petroleum in a report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price for the company. Finally, Truist Financial lifted their target price on Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.94.

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.