VisionPoint Advisory Group LLC Decreases Stock Position in Occidental Petroleum Co. (NYSE:OXY)

VisionPoint Advisory Group LLC decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,827 shares of the oil and gas producer’s stock after selling 611 shares during the period. VisionPoint Advisory Group LLC’s holdings in Occidental Petroleum were worth $290,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC increased its stake in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum in the third quarter valued at $32,000. Transamerica Financial Advisors Inc. bought a new stake in Occidental Petroleum in the third quarter worth $50,000. New Wave Wealth Advisors LLC purchased a new stake in Occidental Petroleum during the fourth quarter valued at $59,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Occidental Petroleum during the fourth quarter valued at $68,000. 88.70% of the stock is owned by institutional investors.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of Occidental Petroleum stock in a transaction dated Thursday, December 19th. The stock was purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the transaction, the insider now owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. The trade was a 1.39 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders acquired 6,854,394 shares of company stock valued at $315,101,532. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Stock Down 3.2 %

Shares of NYSE OXY opened at $50.42 on Friday. The stock has a 50 day moving average price of $49.20 and a 200 day moving average price of $51.41. The firm has a market capitalization of $47.31 billion, a price-to-earnings ratio of 20.66 and a beta of 1.55. Occidental Petroleum Co. has a 52-week low of $45.17 and a 52-week high of $71.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Sell-side analysts expect that Occidental Petroleum Co. will post 3.56 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.90%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is currently 36.07%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Piper Sandler reduced their price objective on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Truist Financial upped their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Jefferies Financial Group lifted their target price on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, UBS Group increased their price target on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $61.90.

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.