D.A. Davidson & CO. Decreases Holdings in Occidental Petroleum Co. (NYSE:OXY)

D.A. Davidson & CO. decreased its holdings in shares of Occidental Petroleum Co. (NYSE:OXYGet Rating) by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,892 shares of the oil and gas producer’s stock after selling 3,343 shares during the period. D.A. Davidson & CO.’s holdings in Occidental Petroleum were worth $606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. State of Michigan Retirement System grew its position in shares of Occidental Petroleum by 5.5% during the 3rd quarter. State of Michigan Retirement System now owns 222,762 shares of the oil and gas producer’s stock valued at $6,589,000 after acquiring an additional 11,600 shares during the period. BOKF NA bought a new position in Occidental Petroleum in the 3rd quarter worth $3,035,000. Mackay Shields LLC boosted its holdings in Occidental Petroleum by 2.4% in the 3rd quarter. Mackay Shields LLC now owns 135,417 shares of the oil and gas producer’s stock worth $4,006,000 after buying an additional 3,189 shares during the period. Maverick Capital Ltd. boosted its holdings in Occidental Petroleum by 1,551.4% in the 3rd quarter. Maverick Capital Ltd. now owns 68,170 shares of the oil and gas producer’s stock worth $2,016,000 after buying an additional 64,042 shares during the period. Finally, Estate Counselors LLC boosted its holdings in Occidental Petroleum by 59.8% in the 3rd quarter. Estate Counselors LLC now owns 62,100 shares of the oil and gas producer’s stock worth $1,836,000 after buying an additional 23,250 shares during the period. 72.01% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently weighed in on OXY. Raymond James upped their target price on shares of Occidental Petroleum from $60.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Wednesday, March 30th. Barclays upped their target price on shares of Occidental Petroleum from $44.00 to $69.00 in a report on Friday, March 18th. Susquehanna Bancshares upped their target price on shares of Occidental Petroleum from $46.00 to $52.00 in a report on Tuesday, March 1st. Piper Sandler raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $44.00 to $88.00 in a report on Thursday. Finally, Wells Fargo & Company increased their price objective on shares of Occidental Petroleum from $33.00 to $51.00 and gave the company an “underweight” rating in a report on Friday, March 11th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $54.33.

In related news, CEO Vicki A. Hollub bought 14,191 shares of Occidental Petroleum stock in a transaction dated Monday, March 28th. The shares were acquired at an average cost of $56.24 per share, with a total value of $798,101.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Avedick Baruyr Poladian sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $57.23, for a total transaction of $1,144,600.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Shares of NYSE OXY opened at $61.80 on Monday. The firm’s 50-day moving average price is $49.80 and its 200-day moving average price is $38.29. The company has a current ratio of 1.23, a quick ratio of 1.00 and a debt-to-equity ratio of 2.79. The stock has a market capitalization of $57.90 billion, a price-to-earnings ratio of 39.62, a P/E/G ratio of 0.27 and a beta of 2.06. Occidental Petroleum Co. has a 12-month low of $21.62 and a 12-month high of $63.24.

Occidental Petroleum (NYSE:OXYGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The oil and gas producer reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.40. Occidental Petroleum had a net margin of 8.82% and a return on equity of 31.13%. The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $7.39 billion. During the same period in the prior year, the company posted ($0.78) EPS. The firm’s revenue for the quarter was up 136.4% on a year-over-year basis. On average, equities analysts predict that Occidental Petroleum Co. will post 7.64 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 15th. Investors of record on Thursday, March 10th will be given a $0.13 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.01. This represents a $0.52 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Wednesday, March 9th. Occidental Petroleum’s dividend payout ratio is 33.33%.

Occidental Petroleum Company Profile (Get Rating)

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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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