Occidental Petroleum Corporation $OXY Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 85.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 384,828 shares of the oil and gas producer’s stock after selling 2,189,413 shares during the quarter. HighTower Advisors LLC’s holdings in Occidental Petroleum were worth $15,824,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Activest Wealth Management lifted its position in Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 305 shares during the last quarter. Binnacle Investments Inc acquired a new stake in shares of Occidental Petroleum during the third quarter worth about $35,000. Garner Asset Management Corp purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $37,000. Elyxium Wealth LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $39,000. Finally, Byrne Asset Management LLC grew its stake in Occidental Petroleum by 96.9% during the 4th quarter. Byrne Asset Management LLC now owns 1,219 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

OXY has been the topic of several research analyst reports. Scotiabank lifted their price target on Occidental Petroleum from $46.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group increased their price objective on Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a report on Monday, April 13th. Wolfe Research lifted their target price on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Wall Street Zen upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Truist Financial lowered their price objective on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $62.91.

Occidental Petroleum Trading Up 0.0%

NYSE:OXY opened at $58.82 on Monday. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The stock has a fifty day moving average price of $58.94 and a two-hundred day moving average price of $49.43. The stock has a market capitalization of $58.50 billion, a price-to-earnings ratio of 14.82 and a beta of 0.17.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. As a group, sell-side analysts anticipate that Occidental Petroleum Corporation will post 5.33 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. Occidental Petroleum’s payout ratio is 26.20%.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.