Ritholtz Wealth Management Sells 1,339 Shares of Occidental Petroleum Co. (NYSE:OXY)

Ritholtz Wealth Management lessened its stake in Occidental Petroleum Co. (NYSE:OXYFree Report) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,917 shares of the oil and gas producer’s stock after selling 1,339 shares during the quarter. Ritholtz Wealth Management’s holdings in Occidental Petroleum were worth $592,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Occidental Petroleum during the third quarter valued at $26,000. Orion Capital Management LLC bought a new stake in Occidental Petroleum during the third quarter worth about $27,000. TLW Wealth Management LLC bought a new stake in Occidental Petroleum during the fourth quarter worth about $28,000. Resurgent Financial Advisors LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $35,000. Finally, BKM Wealth Management LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $35,000. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Truist Financial reduced their price target on Occidental Petroleum from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, February 16th. JPMorgan Chase & Co. reduced their price target on Occidental Petroleum from $78.00 to $73.00 and set a “neutral” rating on the stock in a report on Friday, December 8th. Raymond James reduced their price target on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Wells Fargo & Company boosted their price target on Occidental Petroleum from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 16th. Finally, Mizuho boosted their price target on Occidental Petroleum from $63.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Eight 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

Read Our Latest Stock Report on Occidental Petroleum

Occidental Petroleum Stock Performance

Shares of OXY opened at $64.99 on Monday. The business’s fifty day simple moving average is $60.34 and its two-hundred day simple moving average is $60.82. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $67.67. The company has a market cap of $57.61 billion, a price-to-earnings ratio of 16.62 and a beta of 1.63.

Occidental Petroleum (NYSE:OXYGet Free Report) last issued its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company’s revenue was down 9.6% compared to the same quarter last year. During the same period last year, the business posted $1.61 EPS. Research analysts anticipate that Occidental Petroleum Co. will post 3.56 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

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

Occidental Petroleum Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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