Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 37.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,908 shares of the oil and gas producer’s stock after selling 112,334 shares during the period. Corient Private Wealth LLC’s holdings in Occidental Petroleum were worth $9,186,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter worth about $27,000. Atala Financial Inc acquired a new position in Occidental Petroleum during the 4th quarter worth about $40,000. Transamerica Financial Advisors Inc. acquired a new position in Occidental Petroleum during the 3rd quarter worth about $50,000. Deseret Mutual Benefit Administrators raised its position in Occidental Petroleum by 27.1% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 248 shares in the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at about $59,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 0.7 %

NYSE:OXY opened at $47.96 on Thursday. The stock’s 50 day moving average price is $48.74 and its 200 day moving average price is $50.12. The company has a market capitalization of $45.01 billion, a PE ratio of 19.66 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 52-week low of $44.70 and a 52-week high of $71.19.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. On average, research analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 10th will be paid a $0.24 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Monday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 39.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OXY shares. Roth Capital set a $54.00 price target on Occidental Petroleum in a research report on Thursday, January 23rd. Stephens reaffirmed an “overweight” rating and issued a $71.00 price target on shares of Occidental Petroleum in a research report on Wednesday, February 19th. UBS Group increased their price target on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Truist Financial increased their price target on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, Mizuho reduced their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $60.45.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the purchase, the insider now owns 264,941,431 shares of the company’s stock, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

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.