DAVENPORT & Co LLC Has $494,000 Stock Position in Occidental Petroleum Corporation $OXY

DAVENPORT & Co LLC cut its position in Occidental Petroleum Corporation (NYSE:OXY) by 49.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,005 shares of the oil and gas producer’s stock after selling 11,699 shares during the period. DAVENPORT & Co LLC’s holdings in Occidental Petroleum were worth $494,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. City Holding Co. boosted its holdings in Occidental Petroleum by 250.0% in the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 500 shares in the last quarter. Binnacle Investments Inc bought a new stake in shares of Occidental Petroleum during the third quarter valued at approximately $35,000. GoalVest Advisory LLC acquired a new position in shares of Occidental Petroleum during the third quarter worth approximately $38,000. Tripletail Wealth Management LLC bought a new position in shares of Occidental Petroleum in the 3rd quarter worth $49,000. Finally, JPL Wealth Management LLC bought a new position in shares of Occidental Petroleum in the 3rd quarter worth $52,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum News Roundup

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Earnings-estimate revisions are moving upward, which supports near-term upside expectations and helps explain recent buying pressure. Analysts and research notes cite improved EPS outlooks that can lift sentiment. Earnings Estimates Rising for Occidental (OXY)
• Positive Sentiment: OXY is trading near its 52-week high and is listed among stocks with momentum and upside potential—momentum can attract more buyers and technical funds. 4 Stocks Trading Near 52-Week High With More Upside Potential
• Positive Sentiment: Recent analyst attention includes upgrades/price-target lifts that have helped push OXY to a new 12‑month high — analyst optimism is a direct support to the stock. Occidental Petroleum (NYSE:OXY) Hits New 12-Month High on Analyst Upgrade
• Positive Sentiment: Macro/peer momentum: coverage of Berkshire Hathaway’s energy holdings and broader interest in energy names has buoyed stocks like OXY, adding to investor appetite. Warren Buffett’s Energy Picks Soared
• Neutral Sentiment: Citi left a “hold/neutral” rating on OXY while raising its price target, a mixed signal (the PT bump is constructive but the rating tempers bullish conviction). Citi Keeps Their Hold Rating on Occidental Petroleum (OXY)
• Negative Sentiment: Contrarian/technical caution: some commentary argues the stock may be near a short-term peak and suggests income strategies (covered calls) or profit-taking, which could apply downward pressure if investors act. Occidental Petroleum Stock May Be at a Peak – Time to Sell OXY Covered Calls?

Analyst Ratings Changes

OXY has been the subject of a number of recent research reports. Argus upgraded shares of Occidental Petroleum to a “hold” rating in a research note on Friday, February 27th. Barclays lifted their price objective on shares of Occidental Petroleum from $55.00 to $59.00 and gave the company an “equal weight” rating in a report on Monday, March 16th. BMO Capital Markets boosted their target price on shares of Occidental Petroleum from $48.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. Jefferies Financial Group upped their target price on shares of Occidental Petroleum from $42.00 to $47.00 and gave the stock a “hold” rating in a report on Monday, February 23rd. Finally, Citigroup lifted their price target on Occidental Petroleum from $45.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday. Nine equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $56.59.

Occidental Petroleum Stock Down 1.9%

Occidental Petroleum stock opened at $64.99 on Wednesday. The firm has a 50 day moving average price of $52.07 and a 200-day moving average price of $45.87. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. Occidental Petroleum Corporation has a twelve month low of $34.78 and a twelve month high of $67.45. The company has a market capitalization of $64.45 billion, a P/E ratio of 40.37 and a beta of 0.34.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.13. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. Occidental Petroleum’s revenue was down 5.2% on a year-over-year basis. As a group, equities analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 10th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, March 10th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 1.6%. Occidental Petroleum’s dividend payout ratio is presently 64.60%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.