Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Good Life Advisors LLC

Good Life Advisors LLC trimmed its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,190 shares of the oil and gas producer’s stock after selling 355 shares during the quarter. Good Life Advisors LLC’s holdings in Occidental Petroleum were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ironwood Wealth Management LLC. bought a new position in Occidental Petroleum in the 1st quarter worth approximately $334,000. Cibc World Market Inc. grew its holdings in Occidental Petroleum by 47.2% in the 1st quarter. Cibc World Market Inc. now owns 55,697 shares of the oil and gas producer’s stock worth $3,160,000 after buying an additional 17,859 shares in the last quarter. Prudential PLC bought a new position in Occidental Petroleum in the 1st quarter worth approximately $1,124,000. Sequoia Financial Advisors LLC bought a new position in Occidental Petroleum in the 1st quarter worth approximately $313,000. Finally, Candriam Luxembourg S.C.A. grew its holdings in Occidental Petroleum by 12.4% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 54,540 shares of the oil and gas producer’s stock worth $3,094,000 after buying an additional 6,018 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OXY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $78.00 to $73.00 and set a “neutral” rating for the company in a report on Friday, December 8th. Truist Financial decreased their price target on Occidental Petroleum from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, February 16th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Wells Fargo & Company increased their price target on Occidental Petroleum from $59.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 16th. Finally, Mizuho increased their price target on Occidental Petroleum from $63.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.20.

Occidental Petroleum Price Performance

OXY opened at $64.99 on Friday. The stock has a fifty day moving average of $60.00 and a 200-day moving average of $60.82. The firm has a market capitalization of $57.61 billion, a P/E ratio of 16.62 and a beta of 1.63. Occidental Petroleum Co. has a 12-month low of $55.12 and a 12-month high of $67.67. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 earnings per share. Equities analysts forecast that Occidental Petroleum Co. will post 3.56 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 8th will be given a $0.22 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, March 7th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.51%.

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.