Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Sigma Planning Corp

Sigma Planning Corp lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 40.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,420 shares of the oil and gas producer’s stock after selling 7,135 shares during the period. Sigma Planning Corp’s holdings in Occidental Petroleum were worth $622,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oppenheimer & Co. Inc. grew its stake in shares of Occidental Petroleum by 8.6% during the third quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock worth $10,139,000 after purchasing an additional 12,349 shares in the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of Occidental Petroleum by 8.9% during the fourth quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock worth $343,000 after purchasing an additional 474 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Occidental Petroleum during the third quarter worth $29,665,000. Cullen Investment Group LTD. acquired a new position in shares of Occidental Petroleum during the fourth quarter worth $1,006,000. Finally, Koshinski Asset Management Inc. grew its stake in shares of Occidental Petroleum by 53.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock worth $2,877,000 after purchasing an additional 16,871 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

OXY has been the subject of a number of analyst reports. HSBC initiated coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They set a “hold” rating and a $65.00 target price for the company. Wells Fargo & Company upped their price objective on shares of Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Truist Financial upped their price objective on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Mizuho upped their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $67.33 on Thursday. The company has a 50-day simple moving average of $63.97 and a 200-day simple moving average of $61.29. Occidental Petroleum Co. has a one year low of $55.12 and a one year high of $71.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. The stock has a market capitalization of $59.69 billion, a price-to-earnings ratio of 17.22 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $6.93 billion. During the same period in the prior year, the company earned $1.61 earnings per share. The business’s revenue was down 9.6% compared to the same quarter last year. On average, analysts predict that Occidental Petroleum Co. will post 3.85 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were issued a dividend of $0.22 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a yield of 1.31%. The ex-dividend date was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio is currently 22.51%.

Occidental Petroleum 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.