Concord Wealth Partners Lowers Stake in Occidental Petroleum Co. (NYSE:OXY)

Concord Wealth Partners lessened its holdings in Occidental Petroleum Co. (NYSE:OXY) by 22.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 653 shares of the oil and gas producer’s stock after selling 189 shares during the quarter. Concord Wealth Partners’ holdings in Occidental Petroleum were worth $39,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Triumph Capital Management raised its position in shares of Occidental Petroleum by 23.1% in the 4th quarter. Triumph Capital Management now owns 6,485 shares of the oil and gas producer’s stock worth $388,000 after purchasing an additional 1,219 shares during the last quarter. Savant Capital LLC increased its stake in Occidental Petroleum by 2.0% during the 4th quarter. Savant Capital LLC now owns 14,632 shares of the oil and gas producer’s stock valued at $874,000 after purchasing an additional 280 shares in the last quarter. Mission Wealth Management LP raised its holdings in Occidental Petroleum by 9.3% in the fourth quarter. Mission Wealth Management LP now owns 3,614 shares of the oil and gas producer’s stock worth $216,000 after buying an additional 309 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $224,000. Finally, Norden Group LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter valued at approximately $202,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Down 0.4 %

OXY stock opened at $64.39 on Friday. The business’s 50-day moving average price is $64.72 and its 200-day moving average price is $61.43. The stock has a market cap of $57.08 billion, a P/E ratio of 16.47 and a beta of 1.64. Occidental Petroleum Co. has a twelve month low of $55.12 and a twelve month high of $71.18. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. The firm had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.61 earnings per share. On average, equities research analysts forecast that Occidental Petroleum Co. will post 3.81 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Analyst Ratings Changes

Several equities analysts recently issued reports on OXY shares. Wells Fargo & Company upped their price objective on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. HSBC initiated coverage on Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Morgan Stanley boosted their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, Mizuho raised their target price on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Nine research 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. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and an average price target 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.