Sigma Planning Corp Sells 7,135 Shares of Occidental Petroleum Co. (NYSE:OXY)

Sigma Planning Corp reduced its holdings in Occidental Petroleum Co. (NYSE:OXY) by 40.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,420 shares of the oil and gas producer’s stock after selling 7,135 shares during the quarter. Sigma Planning Corp’s holdings in Occidental Petroleum were worth $622,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of OXY. DAVENPORT & Co LLC boosted its holdings in shares of Occidental Petroleum by 82.6% in the 3rd quarter. DAVENPORT & Co LLC now owns 11,341 shares of the oil and gas producer’s stock worth $736,000 after acquiring an additional 5,130 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Occidental Petroleum by 11.6% during the 3rd quarter. Avior Wealth Management LLC now owns 2,922 shares of the oil and gas producer’s stock worth $206,000 after buying an additional 303 shares in the last quarter. Caprock Group LLC lifted its holdings in Occidental Petroleum by 37.2% during the 3rd quarter. Caprock Group LLC now owns 15,101 shares of the oil and gas producer’s stock worth $983,000 after buying an additional 4,096 shares in the last quarter. CX Institutional lifted its holdings in Occidental Petroleum by 6.9% during the 3rd quarter. CX Institutional now owns 7,791 shares of the oil and gas producer’s stock worth $506,000 after buying an additional 506 shares in the last quarter. Finally, RFG Holdings Inc. lifted its holdings in Occidental Petroleum by 85.8% during the 3rd quarter. RFG Holdings Inc. now owns 59,006 shares of the oil and gas producer’s stock worth $3,828,000 after buying an additional 27,243 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $67.33 on Thursday. The firm’s 50-day moving average price is $63.97 and its 200-day moving average price is $61.29. Occidental Petroleum Co. has a 1-year low of $55.12 and a 1-year high of $71.18. The firm has a market capitalization of $59.69 billion, a P/E ratio of 17.22 and a beta of 1.64. 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 (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 company had revenue of $7.53 billion during 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 firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.61 earnings per share. Equities research analysts anticipate that Occidental Petroleum Co. will post 3.85 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.31%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio is presently 22.51%.

Analysts Set New Price Targets

Several research analysts have issued reports on OXY shares. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $63.00 to $90.00 in a report on Thursday, April 11th. Raymond James reduced their price objective 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 increased their price target on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Truist Financial increased their price target on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Stephens restated an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research report on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $71.94.

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.