Occidental Petroleum Co. (NYSE:OXY) Position Reduced by CX Institutional

CX Institutional decreased its position in shares of Occidental Petroleum Co. (NYSE:OXYFree Report) by 13.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,774 shares of the oil and gas producer’s stock after selling 1,017 shares during the period. CX Institutional’s holdings in Occidental Petroleum were worth $404,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Occidental Petroleum during the third quarter worth approximately $26,000. Orion Capital Management LLC bought a new position in shares of Occidental Petroleum in the third quarter valued at $27,000. TLW Wealth Management LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at $28,000. Resurgent Financial Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at $35,000. Finally, BKM Wealth Management LLC acquired a new stake in Occidental Petroleum during the 4th quarter valued at $35,000. Institutional investors own 77.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stephens reissued an “overweight” rating and set a $74.00 target price on shares of Occidental Petroleum in a research note on Thursday, February 15th. JPMorgan Chase & Co. cut their target price on shares of Occidental Petroleum from $78.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday, December 8th. Raymond James cut their target price on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Truist Financial lowered their price target on shares of Occidental Petroleum from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.94.

View Our Latest Stock Analysis on Occidental Petroleum

Occidental Petroleum Stock Down 0.2 %

OXY stock opened at $63.81 on Friday. The stock has a market capitalization of $56.12 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 2.09 and a beta of 1.63. The company has a 50-day moving average of $59.57 and a two-hundred day moving average of $60.84. Occidental Petroleum Co. has a 52-week low of $55.12 and a 52-week high of $67.67. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69.

Occidental Petroleum (NYSE:OXYGet Free Report) last released its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The firm had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company’s revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.61 EPS. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 3.56 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 8th will be issued 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 is Thursday, March 7th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Occidental Petroleum Company Profile

(Free Report)

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.

Further Reading

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

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