Oak Grove Capital LLC Sells 400 Shares of Occidental Petroleum Co. (NYSE:OXY)

Oak Grove Capital LLC trimmed its holdings in shares of Occidental Petroleum Co. (NYSE:OXYFree Report) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,200 shares of the oil and gas producer’s stock after selling 400 shares during the period. Oak Grove Capital LLC’s holdings in Occidental Petroleum were worth $669,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in shares of Occidental Petroleum by 600.4% during the third quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer’s stock worth $145,520,000 after purchasing an additional 1,922,656 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Occidental Petroleum by 22.2% during the fourth quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock worth $357,977,000 after purchasing an additional 1,088,052 shares during the period. ANTIPODES PARTNERS Ltd boosted its holdings in shares of Occidental Petroleum by 51.7% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock worth $139,749,000 after purchasing an additional 797,894 shares during the period. TD Asset Management Inc boosted its holdings in shares of Occidental Petroleum by 237.9% during the fourth quarter. TD Asset Management Inc now owns 756,862 shares of the oil and gas producer’s stock worth $45,192,000 after purchasing an additional 532,847 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Occidental Petroleum in the third quarter worth about $29,665,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OXY has been the subject of several research analyst reports. HSBC initiated coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. Barclays began coverage on shares of Occidental Petroleum in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price for the company. Truist Financial downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their target price for the company from $84.00 to $69.00 in a research note on Thursday, May 16th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Finally, StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Eleven research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.94.

Get Our Latest Analysis on OXY

Occidental Petroleum Price Performance

Shares of OXY traded up $1.29 during trading hours on Friday, reaching $62.50. 7,976,893 shares of the stock traded hands, compared to its average volume of 5,708,139. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. Occidental Petroleum Co. has a 52-week low of $55.12 and a 52-week high of $71.18. The company’s 50-day moving average price is $65.27 and its two-hundred day moving average price is $61.45. The company has a market cap of $55.42 billion, a P/E ratio of 17.08 and a beta of 1.64.

Occidental Petroleum (NYSE:OXYGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. Occidental Petroleum’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 EPS. On average, analysts anticipate that Occidental Petroleum Co. will post 3.89 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.41%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Occidental Petroleum Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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