Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC lessened its stake in Occidental Petroleum Co. (NYSE:OXY) by 41.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,512 shares of the oil and gas producer’s stock after selling 3,198 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Occidental Petroleum were worth $269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $26,000. Orion Capital Management LLC acquired a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $27,000. TLW Wealth Management LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $28,000. Resurgent Financial Advisors LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth $35,000. Finally, BKM Wealth Management LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth $35,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 0.3 %

NYSE:OXY opened at $68.55 on Wednesday. The firm has a market cap of $60.77 billion, a PE ratio of 17.53 and a beta of 1.64. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average price of $61.76 and a 200 day moving average price of $60.92. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $69.58.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the business earned $1.61 EPS. Occidental Petroleum’s revenue for the quarter was down 9.6% on a year-over-year basis. Sell-side analysts anticipate that Occidental Petroleum Co. will post 3.72 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 8th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.28%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s payout ratio is 22.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OXY shares. 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. Truist Financial raised their target price on Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Raymond James cut their target price on 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. Wells Fargo & Company raised their target price on 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 their target price on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $70.31.

Occidental Petroleum Company 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.