Nwam LLC Cuts Position in Occidental Petroleum Co. (NYSE:OXY)

Nwam LLC reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 35.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,465 shares of the oil and gas producer’s stock after selling 3,522 shares during the period. Nwam LLC’s holdings in Occidental Petroleum were worth $319,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum during the fourth quarter worth about $27,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $32,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of Occidental Petroleum in the 3rd quarter worth approximately $50,000. Deseret Mutual Benefit Administrators increased its stake in Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 248 shares in the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new position in Occidental Petroleum during the fourth quarter worth $59,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OXY has been the topic of several research reports. Wells Fargo & Company reissued an “equal weight” rating on shares of Occidental Petroleum in a report on Friday, February 21st. Mizuho dropped their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wolfe Research lifted their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Citigroup lowered their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. Three analysts have rated the stock with a sell rating, twelve have assigned 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.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $61.55.

Occidental Petroleum Stock Up 0.4 %

Shares of Occidental Petroleum stock opened at $48.85 on Friday. The company has a fifty day moving average price of $49.46 and a 200 day moving average price of $51.06. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a twelve month low of $45.17 and a twelve month high of $71.18. The stock has a market cap of $45.85 billion, a price-to-earnings ratio of 20.02 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Equities research analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share 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 paid a $0.24 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.97%. Occidental Petroleum’s payout ratio is 39.34%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 2,477,362 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the transaction, the insider now directly owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders acquired 6,854,394 shares of company stock valued at $315,101,532. Insiders own 0.31% of the company’s stock.

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.