Advisory Services Network LLC Buys 6,925 Shares of Occidental Petroleum Co. (NYSE:OXY)

Advisory Services Network LLC increased its holdings in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 48.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,208 shares of the oil and gas producer's stock after acquiring an additional 6,925 shares during the period. Advisory Services Network LLC's holdings in Occidental Petroleum were worth $1,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Howard Capital Management Inc. increased its stake in shares of Occidental Petroleum by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer's stock worth $209,000 after purchasing an additional 216 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in Occidental Petroleum by 27.1% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock valued at $58,000 after purchasing an additional 248 shares during the period. Park Avenue Securities LLC increased its position in Occidental Petroleum by 3.2% in the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock worth $398,000 after buying an additional 250 shares during the last quarter. Horizon Investments LLC lifted its position in shares of Occidental Petroleum by 2.3% during the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock valued at $554,000 after buying an additional 257 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Occidental Petroleum by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer's stock worth $2,863,000 after acquiring an additional 290 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Raymond James downgraded shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from $81.00 to $64.00 in a report on Monday, March 10th. JPMorgan Chase & Co. reduced their price target on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Citigroup decreased their price target on Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. StockNews.com lowered shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Finally, Truist Financial increased their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Occidental Petroleum has an average rating of "Hold" and an average price target of $56.10.

Occidental Petroleum Trading Down 0.3 %

OXY stock traded down $0.13 during midday trading on Tuesday, hitting $37.77. The company had a trading volume of 9,330,283 shares, compared to its average volume of 10,790,040. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 52 week low of $34.79 and a 52 week high of $69.44. The stock's 50 day moving average price is $46.27 and its 200 day moving average price is $48.95. The stock has a market cap of $35.50 billion, a price-to-earnings ratio of 15.48 and a beta of 1.02.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating the consensus estimate of $0.67 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. As a group, equities research analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.54%. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, March 10th. Occidental Petroleum's dividend payout ratio (DPR) is currently 39.34%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the firm's stock in a transaction on Friday, February 7th. The stock was acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now owns 264,941,431 shares in the company, valued at $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company's stock.

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.