EP Wealth Advisors LLC Sells 1,155 Shares of Occidental Petroleum Co. (NYSE:OXY)

EP Wealth Advisors LLC cut its holdings in Occidental Petroleum Co. (NYSE:OXY) by 16.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,905 shares of the oil and gas producer’s stock after selling 1,155 shares during the quarter. EP Wealth Advisors LLC’s holdings in Occidental Petroleum were worth $353,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Orion Capital Management LLC bought a new position in shares of Occidental Petroleum during the 3rd quarter valued at $27,000. TLW Wealth Management LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at $28,000. Grove Bank & Trust lifted its holdings 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 buying an additional 240 shares during the period. Criterion Capital Advisors LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at $34,000. Finally, BKM Wealth Management LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at $35,000. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OXY has been the topic of several research analyst reports. Susquehanna increased their price target on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Mizuho upped their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Citigroup reduced their price objective on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Morgan Stanley upped their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Eleven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $71.50.

Occidental Petroleum Trading Up 1.8 %

Shares of OXY stock opened at $61.26 on Thursday. Occidental Petroleum Co. has a 52-week low of $55.12 and a 52-week high of $71.18. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.95. The firm has a market capitalization of $54.32 billion, a PE ratio of 16.74 and a beta of 1.59. The stock has a fifty day simple moving average of $63.62 and a two-hundred day simple moving average of $61.45.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. Occidental Petroleum’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS. On average, analysts predict that Occidental Petroleum Co. will post 3.89 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.44%. Occidental Petroleum’s payout ratio is 24.04%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 1,386,844 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was purchased at an average price of $59.67 per share, for a total transaction of $82,752,981.48. Following the completion of the transaction, the insider now directly owns 250,583,605 shares in the company, valued at approximately $14,952,323,710.35. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders bought a total of 4,656,747 shares of company stock worth $278,664,028 over the last 90 days. Corporate insiders own 0.48% of the company’s stock.

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.