Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Geneva Partners LLC

Geneva Partners LLC trimmed its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 41.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,585 shares of the oil and gas producer’s stock after selling 7,375 shares during the quarter. Geneva Partners LLC’s holdings in Occidental Petroleum were worth $632,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer & Co. Inc. increased its stake in Occidental Petroleum by 8.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock worth $10,139,000 after buying an additional 12,349 shares during the period. SeaCrest Wealth Management LLC increased its position 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 acquiring an additional 474 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum in the third quarter valued at $29,665,000. Cullen Investment Group LTD. purchased a new position in Occidental Petroleum in the fourth quarter valued at $1,006,000. Finally, Koshinski Asset Management Inc. grew its stake in Occidental Petroleum by 53.9% during the 4th 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. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded up $0.59 during trading hours on Friday, reaching $66.63. The stock had a trading volume of 9,758,968 shares, compared to its average volume of 8,809,430. The firm has a market cap of $59.07 billion, a price-to-earnings ratio of 17.04 and a beta of 1.64. Occidental Petroleum Co. has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The firm has a 50-day moving average of $63.39 and a 200-day moving average of $61.16. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The business had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the company earned $1.61 earnings per share. The company’s revenue was down 9.6% compared to the same quarter last year. Equities research analysts predict that Occidental Petroleum Co. will post 3.74 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.32%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio is presently 22.51%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on OXY shares. HSBC began coverage on Occidental Petroleum in a research note on Monday, April 8th. They issued a “hold” rating and a $65.00 price objective for the company. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Morgan Stanley raised 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. Raymond James lowered their target price on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Finally, Truist Financial raised their price target on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.06.

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.