Truist Financial Corp Sells 19,159 Shares of Occidental Petroleum Co. (NYSE:OXY)

Truist Financial Corp reduced its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 17.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 93,323 shares of the oil and gas producer’s stock after selling 19,159 shares during the quarter. Truist Financial Corp’s holdings in Occidental Petroleum were worth $5,572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OXY. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at approximately $26,000. Orion Capital Management LLC bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at approximately $27,000. TLW Wealth Management LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at approximately $28,000. Grove Bank & Trust boosted its position in shares of Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 240 shares during the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in Occidental Petroleum in the fourth quarter worth $34,000. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research analyst reports. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Susquehanna raised their price target on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. HSBC began coverage on Occidental Petroleum in a research note on Monday, April 8th. They set a “hold” rating and a $65.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $64.39 on Friday. 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 company has a market cap of $57.08 billion, a PE ratio of 16.47 and a beta of 1.64. The business has a 50-day simple moving average of $64.80 and a two-hundred day simple moving average of $61.42. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 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 firm had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the previous year, the company posted $1.61 earnings per share. The company’s revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts expect that Occidental Petroleum Co. will post 3.81 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s payout ratio is presently 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.