Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Aviance Capital Partners LLC

Aviance Capital Partners LLC lessened its holdings in Occidental Petroleum Co. (NYSE:OXY) by 51.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 22,738 shares of the oil and gas producer’s stock after selling 23,920 shares during the period. Aviance Capital Partners LLC’s holdings in Occidental Petroleum were worth $1,123,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Berkshire Asset Management LLC PA acquired a new stake in Occidental Petroleum in the fourth quarter worth about $356,000. Edgestream Partners L.P. acquired a new stake in Occidental Petroleum in the fourth quarter worth about $1,008,000. Callan Family Office LLC acquired a new stake in Occidental Petroleum in the fourth quarter worth about $1,966,000. Candriam S.C.A. boosted its holdings in Occidental Petroleum by 2.6% in the fourth quarter. Candriam S.C.A. now owns 44,056 shares of the oil and gas producer’s stock worth $2,177,000 after acquiring an additional 1,115 shares in the last quarter. Finally, Freestone Capital Holdings LLC boosted its holdings in Occidental Petroleum by 57.0% in the fourth quarter. Freestone Capital Holdings LLC now owns 7,217 shares of the oil and gas producer’s stock worth $357,000 after acquiring an additional 2,621 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Up 3.4 %

Occidental Petroleum stock opened at $47.26 on Friday. The stock has a market capitalization of $44.35 billion, a PE ratio of 19.37 and a beta of 1.51. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.18. The business has a 50 day simple moving average of $49.27 and a 200-day simple moving average of $50.72. 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 data 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 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, analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a $0.24 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.03%. Occidental Petroleum’s payout ratio is 39.34%.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research analyst reports. TD Cowen reduced their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Truist Financial raised their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Stephens restated an “overweight” rating and issued a $71.00 price objective on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Finally, UBS Group raised their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.50.

Insider Transactions at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the completion of the purchase, the insider now directly owns 264,178,414 shares of the company’s stock, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 6,854,394 shares of company stock valued at $315,101,532 over the last ninety days. Insiders own 0.31% of the company’s stock.

About Occidental Petroleum

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.