Addison Advisors LLC Decreases Position in Occidental Petroleum Co. (NYSE:OXY)

Addison Advisors LLC lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 63.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 990 shares of the oil and gas producer’s stock after selling 1,709 shares during the quarter. Addison Advisors LLC’s holdings in Occidental Petroleum were worth $49,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Occidental Petroleum in the 3rd quarter worth $32,000. Transamerica Financial Advisors Inc. purchased a new position in Occidental Petroleum in the 3rd quarter worth $50,000. Deseret Mutual Benefit Administrators grew its position in Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after purchasing an additional 248 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth about $59,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Activity at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was 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 approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 6,854,394 shares of company stock worth $315,101,532 over the last quarter. Company insiders own 0.31% of the company’s stock.

Occidental Petroleum Trading Down 2.0 %

OXY opened at $48.87 on Wednesday. The firm’s fifty day simple moving average is $49.31 and its 200 day simple moving average is $51.21. Occidental Petroleum Co. has a 12 month low of $45.17 and a 12 month high of $71.18. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $45.86 billion, a P/E ratio of 20.03 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, topping the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. As a group, research analysts anticipate that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Monday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s payout ratio is 39.34%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Susquehanna reduced their target price on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Wells Fargo & Company restated an “equal weight” rating on shares of Occidental Petroleum in a report on Friday. Piper Sandler dropped their target price on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Jefferies Financial Group increased their price target on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, Wolfe Research increased their price target on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average target price of $61.55.

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.