Hi Line Capital Management LLC Sells 7,630 Shares of Occidental Petroleum Co. (NYSE:OXY)

Hi Line Capital Management LLC reduced its stake in Occidental Petroleum Co. (NYSE:OXY) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,441 shares of the oil and gas producer’s stock after selling 7,630 shares during the period. Occidental Petroleum accounts for approximately 1.8% of Hi Line Capital Management LLC’s holdings, making the stock its 19th largest holding. Hi Line Capital Management LLC’s holdings in Occidental Petroleum were worth $4,758,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of OXY. PACK Private Wealth LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $238,000. Charles Schwab Investment Management Inc. lifted its stake in Occidental Petroleum by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer’s stock valued at $220,910,000 after buying an additional 82,360 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of Occidental Petroleum by 45.5% during the fourth quarter. Apollon Wealth Management LLC now owns 20,129 shares of the oil and gas producer’s stock worth $1,202,000 after acquiring an additional 6,295 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Occidental Petroleum by 1.0% during the fourth quarter. Private Advisor Group LLC now owns 64,377 shares of the oil and gas producer’s stock worth $3,844,000 after acquiring an additional 628 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its position in Occidental Petroleum by 36.6% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 6,455 shares of the oil and gas producer’s stock valued at $385,000 after acquiring an additional 1,731 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OXY has been the topic of several research reports. HSBC began coverage on Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 target price on the stock. Truist Financial raised their price target on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Raymond James cut their price objective on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Stephens restated an “overweight” rating and set a $74.00 target price on shares of Occidental Petroleum in a report on Thursday, February 15th. Finally, Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.00.

Occidental Petroleum Stock Up 0.4 %

Shares of OXY opened at $63.91 on Thursday. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18. The stock has a fifty day moving average of $64.98 and a 200-day moving average of $61.34. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. The stock has a market capitalization of $56.65 billion, a price-to-earnings ratio of 16.29 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 EPS. As a group, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s dividend payout ratio (DPR) is 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.