Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lowered its stake in Occidental Petroleum Co. (NYSE:OXY) by 36.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,243 shares of the oil and gas producer’s stock after selling 6,473 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Occidental Petroleum were worth $671,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Occidental Petroleum in the third quarter valued at about $26,000. Orion Capital Management LLC acquired a new stake in Occidental Petroleum during the 3rd quarter valued at approximately $27,000. TLW Wealth Management LLC acquired a new stake in Occidental Petroleum during the 4th quarter valued at approximately $28,000. BKM Wealth Management LLC acquired a new stake in Occidental Petroleum during the 4th quarter valued at approximately $35,000. Finally, Resurgent Financial Advisors LLC acquired a new stake in Occidental Petroleum during the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 0.3 %

Shares of NYSE OXY opened at $69.03 on Friday. The company has a market cap of $61.19 billion, a price-to-earnings ratio of 17.65 and a beta of 1.64. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $71.18. 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’s 50 day simple moving average is $62.47 and its 200 day simple moving average is $61.07.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.61 EPS. Equities research analysts expect that Occidental Petroleum Co. will post 3.84 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 8th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, March 7th. This represents a $0.88 annualized dividend and a yield of 1.27%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s payout ratio is presently 22.51%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on OXY shares. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $63.00 to $90.00 in a research note on Thursday. Mizuho raised their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Truist Financial lifted their target price on Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Nine 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.06.

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.