HighPoint Advisor Group LLC Has $648,000 Stock Holdings in Occidental Petroleum Co. (NYSE:OXY)

HighPoint Advisor Group LLC lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 6.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,331 shares of the oil and gas producer’s stock after selling 954 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Occidental Petroleum were worth $648,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of OXY. Howard Capital Management Inc. boosted its holdings in Occidental Petroleum by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock valued at $209,000 after purchasing an additional 216 shares during the period. Deseret Mutual Benefit Administrators boosted its stake in shares of Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock valued at $58,000 after buying an additional 248 shares during the period. Empire Financial Management Company LLC grew its position in Occidental Petroleum by 4.1% during the third quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock worth $329,000 after buying an additional 250 shares in the last quarter. Park Avenue Securities LLC increased its stake in Occidental Petroleum by 3.2% during the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after acquiring an additional 250 shares during the period. Finally, Horizon Investments LLC raised its holdings in Occidental Petroleum by 2.3% in the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer’s stock valued at $554,000 after acquiring an additional 257 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.3 %

Shares of OXY opened at $49.22 on Wednesday. The company has a market capitalization of $46.25 billion, a PE ratio of 20.17 and a beta of 1.51. The stock’s 50-day moving average price is $48.20 and its two-hundred day moving average price is $49.85. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 12 month low of $44.70 and a 12 month high of $71.19.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $7.14 billion. On average, analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be issued a $0.24 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a yield of 1.95%. Occidental Petroleum’s payout ratio is presently 39.34%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the company’s stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the purchase, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

OXY has been the topic of a number of recent analyst reports. Truist Financial raised their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the company an “overweight” rating in a research report on Wednesday, March 26th. Piper Sandler reduced their price target on shares of Occidental Petroleum from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Finally, Raymond James downgraded Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $81.00 to $64.00 in a report on Monday, March 10th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $59.82.

Occidental Petroleum Company 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.