Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. lowered its stake in Occidental Petroleum Co. (NYSE:OXY) by 2.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,890 shares of the oil and gas producer’s stock after selling 200 shares during the quarter. Baxter Bros Inc.’s holdings in Occidental Petroleum were worth $471,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OXY. Bank of New York Mellon Corp boosted its stake in shares of Occidental Petroleum by 24.1% in the third quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock worth $779,983,000 after acquiring an additional 2,334,651 shares during the last quarter. American Century Companies Inc. boosted its stake in Occidental Petroleum by 600.4% during the 3rd quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock worth $145,520,000 after purchasing an additional 1,922,656 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Occidental Petroleum by 22.2% in the fourth quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after buying an additional 1,088,052 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its position in shares of Occidental Petroleum by 51.7% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after buying an additional 797,894 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Occidental Petroleum during the third quarter worth about $29,665,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on OXY shares. Truist Financial increased their price objective on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a report on Friday, April 5th. Stephens reissued an “overweight” rating and set a $74.00 price objective on shares of Occidental Petroleum in a research note on Thursday, February 15th. Morgan Stanley raised their target price on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Mizuho boosted their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Trading Down 0.4 %

Shares of OXY stock traded down $0.27 on Friday, hitting $64.39. The stock had a trading volume of 6,771,518 shares, compared to its average volume of 7,759,409. The company’s 50 day moving average price is $64.80 and its 200-day moving average price is $61.42. Occidental Petroleum Co. has a 1 year low of $55.12 and a 1 year high of $71.18. The firm has a market capitalization of $57.08 billion, a P/E ratio of 16.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the firm earned $1.61 earnings per share. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. Analysts anticipate that Occidental Petroleum Co. will post 3.81 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

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.