Threadgill Financial LLC Trims Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

Threadgill Financial LLC lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 78.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,595 shares of the oil and gas producer’s stock after selling 20,165 shares during the period. Threadgill Financial LLC’s holdings in Occidental Petroleum were worth $334,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of OXY. Ironwood Wealth Management LLC. purchased a new position in Occidental Petroleum during the first quarter valued at approximately $334,000. Cibc World Market Inc. grew its stake in Occidental Petroleum by 47.2% during the first quarter. Cibc World Market Inc. now owns 55,697 shares of the oil and gas producer’s stock valued at $3,160,000 after acquiring an additional 17,859 shares in the last quarter. Prudential PLC purchased a new position in Occidental Petroleum during the first quarter valued at approximately $1,124,000. Sequoia Financial Advisors LLC purchased a new position in Occidental Petroleum during the first quarter valued at approximately $313,000. Finally, Candriam Luxembourg S.C.A. grew its stake in Occidental Petroleum by 12.4% during the first quarter. Candriam Luxembourg S.C.A. now owns 54,540 shares of the oil and gas producer’s stock valued at $3,094,000 after acquiring an additional 6,018 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 1.4 %

Shares of OXY opened at $64.21 on Thursday. The firm has a 50 day moving average price of $59.84 and a 200-day moving average price of $60.79. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $67.67. 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 firm has a market cap of $56.92 billion, a price-to-earnings ratio of 16.42 and a beta of 1.63.

Occidental Petroleum (NYSE:OXY) last posted 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. 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 during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the business posted $1.61 EPS. The firm’s revenue was down 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that Occidental Petroleum Co. will post 3.56 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 8th will be issued a dividend of $0.22 per share. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, March 7th. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Raymond James cut their price target on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Truist Financial cut their price target on shares of Occidental Petroleum from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Wells Fargo & Company boosted their price target on shares of Occidental Petroleum from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 16th. Finally, Morgan Stanley raised shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and set a $68.00 price target for the company in a research note on Monday, December 11th. Eight 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.94.

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.