Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV trimmed its stake in Occidental Petroleum Co. (NYSE:OXY) by 28.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,834 shares of the oil and gas producer’s stock after selling 10,139 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Occidental Petroleum were worth $1,543,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Occidental Petroleum in the third quarter valued at $26,000. Orion Capital Management LLC acquired a new position in Occidental Petroleum in the third quarter valued at $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum in the fourth quarter valued at $28,000. Grove Bank & Trust increased its stake 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 valued at $31,000 after purchasing an additional 240 shares during the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new position in Occidental Petroleum in the fourth quarter valued at $35,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OXY has been the subject of several analyst reports. Truist Financial upped their target price on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, April 5th. HSBC assumed coverage on Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 price target for the company. Wells Fargo & Company boosted their price target on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Barclays assumed coverage on Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target for the company. Finally, StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.06.

Occidental Petroleum Stock Down 0.3 %

OXY traded down $0.19 on Thursday, reaching $65.79. The company’s stock had a trading volume of 4,446,455 shares, compared to its average volume of 8,760,021. The stock has a market cap of $58.32 billion, a price-to-earnings ratio of 16.94 and a beta of 1.64. Occidental Petroleum Co. has a 1 year low of $55.12 and a 1 year high of $71.18. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. The business’s 50 day moving average is $63.05 and its 200 day moving average is $61.09.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The firm had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. Occidental Petroleum’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.61 earnings per share. As a group, research analysts forecast that Occidental Petroleum Co. will post 3.74 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were issued a $0.22 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.88 dividend on an annualized basis and a yield of 1.34%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

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.