HBK Sorce Advisory LLC Has $482,000 Stake in Occidental Petroleum Co. (NYSE:OXY)

HBK Sorce Advisory LLC trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 11.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,761 shares of the oil and gas producer’s stock after selling 1,218 shares during the period. HBK Sorce Advisory LLC’s holdings in Occidental Petroleum were worth $482,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Rakuten Securities Inc. raised its position in shares of Occidental Petroleum by 98.1% during the fourth quarter. Rakuten Securities Inc. now owns 10,680 shares of the oil and gas producer’s stock worth $528,000 after purchasing an additional 5,290 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Occidental Petroleum by 15.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 27,976 shares of the oil and gas producer’s stock worth $1,382,000 after buying an additional 3,693 shares in the last quarter. Lane Generational LLC grew its holdings in Occidental Petroleum by 8.6% during the fourth quarter. Lane Generational LLC now owns 90,757 shares of the oil and gas producer’s stock worth $4,484,000 after buying an additional 7,179 shares in the last quarter. Cooke & Bieler LP grew its holdings in Occidental Petroleum by 14.6% during the fourth quarter. Cooke & Bieler LP now owns 2,958,596 shares of the oil and gas producer’s stock worth $146,184,000 after buying an additional 377,952 shares in the last quarter. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. grew its holdings in Occidental Petroleum by 11.3% during the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 29,500 shares of the oil and gas producer’s stock worth $1,458,000 after buying an additional 3,000 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OXY. UBS Group upped their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. StockNews.com downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Truist Financial upped their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Raymond James downgraded Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $81.00 to $64.00 in a research note on Monday, March 10th. Finally, Stephens reiterated an “overweight” rating and set a $71.00 price target on shares of Occidental Petroleum in a research note on Wednesday, February 19th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $60.68.

Occidental Petroleum Price Performance

OXY opened at $46.58 on Friday. The firm has a market cap of $43.71 billion, a price-to-earnings ratio of 19.09 and a beta of 1.51. Occidental Petroleum Co. has a 1 year low of $44.70 and a 1 year high of $71.18. The stock’s 50 day simple moving average is $48.95 and its 200 day simple moving average is $50.36. 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 issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current 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. This is a positive change 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 2.06%. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.34%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 6,854,394 shares of company stock worth $315,101,532 in the last quarter. 0.48% of the stock is owned by company insiders.

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.