Signaturefd LLC Sells 663 Shares of Occidental Petroleum Co. (NYSE:OXY)

Signaturefd LLC lowered its stake in Occidental Petroleum Co. (NYSE:OXY) by 5.7% in the fourth quarter, Holdings Channel reports. The fund owned 11,043 shares of the oil and gas producer’s stock after selling 663 shares during the quarter. Signaturefd LLC’s holdings in Occidental Petroleum were worth $659,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in OXY. Annis Gardner Whiting Capital Advisors LLC bought a new position in Occidental Petroleum in the 3rd quarter valued at approximately $26,000. Orion Capital Management LLC bought a new position in Occidental Petroleum in the 3rd quarter valued at approximately $27,000. TLW Wealth Management LLC bought a new position in Occidental Petroleum in the 4th quarter valued at approximately $28,000. Grove Bank & Trust raised its holdings in Occidental Petroleum by 86.0% in the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 240 shares during the last quarter. Finally, BKM Wealth Management LLC bought a new position in Occidental Petroleum in the 4th quarter valued at approximately $35,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

NYSE OXY opened at $67.39 on Wednesday. The company has a fifty day simple moving average of $63.77 and a 200 day simple moving average of $61.25. 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 company has a market cap of $59.74 billion, a P/E ratio of 17.24 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the firm posted $1.61 EPS. Occidental Petroleum’s revenue was down 9.6% compared to the same quarter last year. Sell-side analysts predict that Occidental Petroleum Co. will post 3.85 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.88 annualized dividend and a yield of 1.31%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Barclays began coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price for the company. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $63.00 to $90.00 in a research report on Thursday, April 11th. HSBC began coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 target price for the company. Finally, Truist Financial increased their target price on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $71.94.

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.