D.A. Davidson & CO. Sells 23,792 Shares of Occidental Petroleum Co. (NYSE:OXY)

D.A. Davidson & CO. reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 36.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 41,398 shares of the oil and gas producer’s stock after selling 23,792 shares during the period. D.A. Davidson & CO.’s holdings in Occidental Petroleum were worth $2,046,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of OXY. Fortitude Family Office LLC grew its holdings in shares of Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Occidental Petroleum in the third quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. bought a new position in shares of Occidental Petroleum in the third quarter valued at approximately $50,000. New Wave Wealth Advisors LLC bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $59,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $68,000. 88.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

OXY has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on Occidental Petroleum from $53.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday. Stephens reiterated an “overweight” rating and issued a $71.00 price objective on shares of Occidental Petroleum in a research note on Wednesday. UBS Group upped their price objective on Occidental Petroleum from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday. TD Cowen dropped their price objective on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group upped their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $61.90.

Occidental Petroleum Trading Down 3.2 %

Shares of OXY stock opened at $50.42 on Friday. 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 Co. has a 52-week low of $45.17 and a 52-week high of $71.18. The company has a market capitalization of $47.31 billion, a PE ratio of 20.66 and a beta of 1.55. The business’s fifty day moving average is $49.20 and its 200 day moving average is $51.41.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data 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. 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 the consensus estimate of $7.14 billion. On average, equities research analysts anticipate that Occidental Petroleum Co. will post 3.56 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.22. Occidental Petroleum’s dividend payout ratio (DPR) is 36.07%.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the purchase, the insider now directly owns 264,941,431 shares in the company, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have acquired 6,854,394 shares of company stock worth $315,101,532. Corporate insiders own 0.31% of the company’s stock.

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.