Ieq Capital LLC Decreases Stake in Occidental Petroleum Co. (NYSE:OXY)

Ieq Capital LLC lessened its holdings in Occidental Petroleum Co. (NYSE:OXY) by 15.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,758 shares of the oil and gas producer’s stock after selling 6,658 shares during the period. Ieq Capital LLC’s holdings in Occidental Petroleum were worth $1,767,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of OXY. Fortitude Family Office LLC boosted its stake in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth approximately $32,000. Transamerica Financial Advisors Inc. purchased a new position in Occidental Petroleum in the third quarter valued at approximately $50,000. New Wave Wealth Advisors LLC bought a new position in Occidental Petroleum during the fourth quarter valued at $59,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in Occidental Petroleum in the fourth quarter worth $68,000. 88.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the acquisition, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders acquired 6,854,394 shares of company stock valued at $315,101,532. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

OXY has been the subject of several recent research reports. UBS Group lifted their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday. Susquehanna reduced their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday. Wolfe Research lifted their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen cut their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.55.

Occidental Petroleum Stock Performance

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

Occidental Petroleum (NYSE:OXY) last released 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 company had revenue of $6.84 billion during 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%. On average, equities analysts forecast that Occidental Petroleum Co. will post 3.58 EPS 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. Investors of record on Monday, March 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio is 39.34%.

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.